We develop a macroeconomic agent-based model to study the role of demand and supply factors in determining inflation dynamics. Local interactions of heterogeneous firms and households in the labor and goods markets characterize the model. Asymmetric information implies that firm selection is...

We develop a macroeconomic agent-based model to study the role of demand and supply factors in determining inflation dynamics. Local interactions of heterogeneous firms and households in the labor and goods markets characterize the model. Asymmetric information implies that firm selection is...

The paper examines the macroeconomic effects of fiscal policy under varying economic conditions. The analysis is conducted using a closed-economy agent-based model, where macroeconomic outcomes of fiscal intervention emerge from the bottom up as the result of interactions between heterogeneous...

The paper examines the macroeconomic effects of fiscal policy under varying economic conditions. The analysis is conducted using a closed-economy agent-based model, where macroeconomic outcomes of fiscal intervention emerge from the bottom up as the result of interactions between heterogeneous...

Recent survey evidence suggests that investors form beliefs about future stock returns by predominantly extrapolating their own experience: They overweight returns they have personally experienced while underweighting returns from earlier years and consequently expect high (low) stock market...

This work presents the evolutionary growth theory, which studies the drivers and patterns of technological change and production together with the (imperfect) mechanisms of coordination among a multitude of firms. This requires to studies economies as complex evolving systems, i.e. as ecologies...

The paper introduces an integrated approach, blending Opinion Dynamics with a Macroeconomic Agent-Based Model (OD-MABM). It aims to explore the co-evolution of climate change mitigation policy and public support. The OD-MABM links a novel opinion dynamics model that is calibrated for European...