We analyze how different budgetary rules affect the stability of an economy in a basic endogenous growth model with public debt and a state-dependent consumption tax rate. We show that a discretionary policy implies that the government violates its inter-temporal budget constraint along a...

Agent-based simulation models are a relatively new addition to the tool-box of macroeconomists. In this chapter we introduce the Eurace@Unibi model and the research that has been done within this framework. We show how an agent-based model can be used to identify economic mechanisms and how it...

Regions within the European Union differ substantially not only with respect to per capita GDP, but also with respect to income inequality within the regions. This paper studies the effects of different types of technology-oriented cohesion policies, aiming at the reduction of regional...

There is no clear-cut evidence on how the adoption of the European fi scal standards influences discretionary fi scal policies within the Member States. This study investigates that phenomenon on the example of the 2004 enlargement. The results show that the e ffects of the adoption of EU fiscal...

We analyze effects of public debt in a basic endogenous growth model with productive public spending. We demonstrate that a discretionary policy violates the inter-temporal government budget constraint along a balanced growth path. A balanced government budget gives a unique saddle point stable...

In this paper we develop an economic growth model that includes anthropogenic climate change. We explicitly include a research sector that creates new technologies and simultaneously expands productivities of existing technologies. The environment is affected by R&D activities both negatively,...

This document provides a description of the modeling assumptions and economic features of the Eurace@Unibi model. Furthermore, the document shows typical patterns of the output generated by this model and compares it to empirically observable stylized facts. The Eurace@Unibi model provides a...

We consider a general class of endogenous growth models with infinitely lived households and analyze how different budgetary rules affect the stability of the economy. We show that a discretionary fiscal policy implies that the government always violates its inter-temporal budget constraint...

German Abstract: Ein von der Politik ausgelöster Bruch in den deutsprachigen Ländern – der sog. Bologna Prozess – löste eine große Nachfrage nach neuen Informationssystemen aus, die die akademischen Prozesse Lehre und Forschung unterstützen konnten. Die Software ist in der notwendigen...

This paper develops a labour market model with on-the-job search, match-specific productivity draws and an endogenous irreversible schooling decision. The choice of schooling is modeled as an optimal stopping problem which gives rise to the equilibrium heterogeneity of workers with respect to...