We present an agent-based computational model in which bounded rational firms and workers trade on fully decentralized markets for final goods and labor by means of random matching protocols. The model replicates several macroeconomic phenomena regularly observed in the data, with aggregate...

Die zunehmende Vernetzung von Rechnern über das Internet lies die Vision von Application Layer Netzwerken aufkommen. Sie umfassen Overlay Netzwerke wie beispielsweise Peer-to-Peer Netzwerke und Grid Infrastrukturen unter Verwendung des TCP/IP Protokolls. Ihre gemeinsame Eigenschaft ist die...

The increasing interconnection between computers through the Internet has emergedthe vision of Application Layer Networks. Application Layer Networks comprise anabstract view on overlay networks (e.g. Peer-to-Peer networks, Grid infrastructures) ontop of the TCP/IP protocol. Their common...

Die zunehmende Vernetzung von Rechnern über das Internet lies die Vision von Application Layer Netzwerken aufkommen. Sie umfassen Overlay Netzwerke wie beispielsweise Peer-to-Peer Netzwerke und Grid Infrastrukturen unter Verwendung des TCP/IP Protokolls. Ihre gemeinsame Eigenschaft ist die...

Die zunehmende Vernetzung von Rechnern über das Internet lies die Vision von Application Layer Netzwerken aufkommen. Sie umfassen Overlay Netzwerke wie beispielsweise Peer-to-Peer Netzwerke und Grid Infrastrukturen unter Verwendung des TCP/IP Protokolls. Ihre gemeinsame Eigenschaft ist die...

In this paper we make use of firm-level data for a sample of European countries to prove the existence of a positive linear relationship between the mean and the variance of firms’ size, an empirical regularity known in mathematical biology as the Taylor power law. A computerized experiment is...

Standard macroeconomics, based on a reductionist approach centered on the representative agent, is badly equipped to explain the empirical evidence where heterogeneity and industrial dynamics are the rule. In this paper we show that a simple agent-based model of heterogeneous financially fragile...

This paper is aimed at investigating the effects of government intervention through unemployment benefits on macroeconomic dynamics in an agent based decentralized matching framework. The major result is that the presence of such a public intervention in the economy stabilizes the aggregate...

An accommodating monetary policy followed by a sudden increase of the short term interest rate often leads to a bubble burst and to an economic slowdown. Two examples are the Great Depression of 1929 and the Great Recession of 2008. Through the implementation of an Agent Based Model with a...