We build an agent-based model to study how scal multipliers can change over the business cycle. Our approach considers the economy as a complex evolving system.In that,scal state-dependent multipliers are emergent disequilibrium phenomenon stemming from the interaction among an ecology of...

L’objet de cet article est de proposer une lecture de l’évolution des faits et des idées économiques, dans la perspective de montrer que les vieilles idées resurgissent sous de nouveaux atours, au point d’en cacher les lacunes et de rendre les crises,non seulement, difficiles à...

Novelty and hysteresis are the main engines of economic evolution. However, they are also at the origin of co-ordination issues, as the consequences of any innovative choice can never be fully expected. Thus, there is no sense in analysing economic change as an intertemporal equilibrium with...

L’article est dédié à reconsidérer les objectifs de la politique monétaire, mais aussi à redéfinir un policy mix’ dans une économie systématiquement confrontée à des déséquilibres dus à des changements de technologie, de composition de la demande ou de répartition des revenus....

Drawing on a large database of publicly announced RD alliances.we track the evolution of RD networks in a large number of economic sectors over a long time period 1986 2009.Our main goal is to evaluate temporal and sectoral robustness of the main statistical properties of empirical RD networks....

We build an agent-based model to study how the interplay between low- and high- frequency trading affects asset price dynamics. Our main goal is to investigate whether high-frequency trading exacerbates market volatility and generates ash crashes. In the model, low-frequency agents adopt trading...

In this paper we explore the effects of alternative combinations of fiscal and monetary poli- cies under different income distribution regimes. In particular, we aim at evaluating fis- cal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model...