In this paper, we present the first dynamic scoring exercise linking a multi‐country microsimulation and DSGE models for all countries of the European Union. We illustrate our novel methodology analysing a hypothetical tax reform for Belgium. We then evaluate real tax reforms in Italy and...

Severe recessions and financial crises are frequent. Their effect on the economy is persistent and often exceeds initial projections. They can also be a strong driver of widening inequality. Therefore it is important that measures be taken to minimise the risk of such events while strengthening...

This paper extends the endogenous-growth agent-based model in Fagiolo& Dosi (2003) to study the finance-growth nexus. We explore industries where firms produce a homogeneous good using existing technologies, perform R&D activities to introduce new techniques, and imitate the most productive...

We shed new light on the macroeconomic effects of rising temperatures. In the data, a shock to global temperature dampens expenditures in research and development (R&D). We rationalize this empirical evidence within a stochastic endogenous growth model, featuring temperature risk and growth...

1. Twenty years of economic reform and structural change in the Chinese economy / Ross Garnaut -- 2. Economic growth over the past twenty years / Xiaolu Wang -- 3. Agricultural reform / Yongzheng Yang -- 4. Trade reform and development / Ligang Song-- 5. State-owned enterprise reform / Yiping...