The recent global financial crisis has increased interest in macroeconomic models that incorporate financial linkages. Here, we compare the simulation properties of five medium-sized general equilibrium models used in eurosystem central banks which incorporate such linkages. The financial...

Each summer in Australia, bushfires burn many hectares of forest, causing deaths, injuries, and destroying property. Agent-based simulation is a powerful tool to test various management strategies on a simulated population, and to raise awareness of the actual population behaviour. But valid...

Nominal interest rates may remain substantially below the averages of the last half-century, as central bank's inflation objectives lie below the average level of inflation and estimates of the real interest rate likely to prevail over the long run fall notably short of the average real interest...