The accumulation of new technological capabilities is of high empirical relevance, both for the development of countries and the business success of firms. In this paper, we aim to delineate strategies how these processes of capability accumulation can be considered more accurately in...

This paper presents an Agent-Based Model (ABM) that seeks to explain the concordance of sluggish growth of productivity and of real wages found in macro-economic statistics, and the increased dispersion of firm productivity and worker earnings found in micro level statistics in advanced...

We develop an agent-based model of traditional banks and asset managers to investigate the contagion risk related to fire sales and balance sheet interactions. We take a structural approach to the price formation in fire sales as in Bluhm et al. (2014) and introduce a market clearing mechanism...

This paper introduces a general method for computing equilibria with heteroge- neous agents and aggregate shocks that is particularly suitable for economies with private infor- mation. Instead of the cross-sectional distribution of agents across individual states, the method uses as a state...

Agent-based computational economics (ACE) is gaining interest in macroeconomic research. Agent-based models (ABM) are increasingly able to replicate micro- and macroeconomic stylised facts and to extend the knowledge about real-world economic systems. These advances allow ABM to become a...

We describe a decentralized routing algorithm with physical time windows for modular conveying systems. Existing routing algorithms for modular conveyors are already capable of bi-directional conveying while avoiding conflicts such as collisions, deadlocks, livelocks and starvation effects. In...