In this paper we expand the agent based model introduced by Chiarella and Di Guilmi (Chiarella, C. and Di Guilmi, C., The financial instability hypothesis: A stochastic microfoundation framework. Journal of Economic Dynamics and Control, 35(8):1151 – 1171, 2011) in which the business cycle...

We show that over the period 1960-1997, the range comprised between the 30th and the 85th percentiles of the world income distribution expressed in terms of GDP per capita invariably scales down as a Pareto distribution. Furthermore, the time path of the power law exponent displays a negatively...

We show that over the period 1960-1997, the range comprised between the 30th and the 85th percentiles of the world income distribution expressed in terms of GDP per capita invariably scales down as a Pareto distribution. Furthermore, the time path of the power law exponent displays a negatively...