The paper provides methodologically new approach to pricing CDS, predicated on the banking network and the banks' balance sheets. The model is evolutionary and includes a counterparty risk and the central bank bailout policy. The banking network is used to accurately calculate the capital ratio...

In the paper we simulate a heterogeneous-agent version of the wage-posting model as derived by Montgomery (1991) with homogeneous workers and differently-productive employers. Wage policy of particular employer is positively correlated with employer's productivity level and the wage policy of...

In the paper we test a homogenous agent version of the Montgomery's (1991) non-cooperative wage posting model. The inclusion of intrinsic costs, related to the uncertainty when changing the alternative agents are already using, alters the outcome of the model in two respects: firstly, it...

We study the evolutionary dynamics of a discrete-time continuous-opinion model under bounded confidence in a complete network with random meetings when different types of agents are present, i.e. regular, stubborn and insincere. We find the following. Even though the decision-making succumbs...

Paper approximates long run utility implications of revenue neutral tax schedules, i.e. using first kind Chebyshev polynomials. Utility approximations are made on steady state utility equations of Hall's infinitely-lived-representative-agent model. I endogenized budget neutral tax schedules to...

This paper brings simulations of an agent-based model of liquidity flows among banks. The model presented here is built on some fundamental, well-established assumptions from the theory of banking and finance. A critical part of the paper introduces a set of base-level rules, aimed at providing...