We employ a new version of the ABC macro-epidemiological agent based model presented in Delli Gatti and Reissl (2020) to evaluate the effects of vaccinations and variants on the epidemic and macroeconomic outlook. Vaccination plays the role of a mitigating factor, reducing the frequency and the...

Commonly used methods of production function estimation assume that a firm’s output quantity can be observed as data, but typical datasets contain only revenue, not output quantity. We examine the nonparametric identification of production function from revenue data when a firm faces a general...

I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume...

We employ a new macro-epidemiological agent based model to evaluate the “lives vs livelihoods” trade-off brought to the fore by Covid-19. The disease spreads across the networks of agents’ social and economic contacts and feeds back on the economic dimension of the model through various...

We employ a new version of the ABC macro-epidemiological agent based model presented in Delli Gatti and Reissl (2020) to evaluate the effects of vaccinations and variants on the epidemic and macroeconomic outlook. Vaccination plays the role of a mitigating factor, reducing the frequency and the...

We employ a new macro-epidemiological agent based model to evaluate the “lives vs livelihoods” trade-off brought to the fore by Covid-19. The disease spreads across the networks of agents’ social and economic contacts and feeds back on the economic dimension of the model through various...

We study the effects of time-using rent-seeking activities on the macroeconomic allocation and the economic growth rate. We formulate a highly stylized three-sector general equilibrium model with overlapping generations of individuals. The production side features one sector producing the...

We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...

Using a unique dataset of 22.5 million news articles from the Dow Jones Newswires Archive, we perform an in depth real-time out-of-sample forecasting comparison study with one of the most widely used data sets in the newer forecasting literature, namely the FRED-MD dataset. Focusing on U.S. GDP,...

We examine the investment rule that must be satisfied by an efficient and egalitarian path in a discrete-time version of the Dasgupta-Heal-Solow model of capital accumulation and resource depletion. In the discrete-time model, competitive valuation of net investments in terms of early and late...