This paper presents a non-equilibrium, agent-based model of workers and firms, with on-the-job searching, endogenous entrepreneurial decisions and endogenous wage and income determination. Workers and firms are heterogeneous, and learn their strategy in the labor market. The model is able to...

An urn-ball probabilistic model of the labour market is developed. Agents can be employed, (voluntary or involuntary) unemployed or entrepreneurs. The analytical long run equilibrium probabilities for each state and the matching function are derived. Then, the out-of-equilibrium dynamics are...

An urn-ball probabilistic model of the labor market is developed. Agents can be employed (voluntarily or involuntarily) unemployed, or entrepreneurs. The analytical long-run equilibrium probabilities for each state and the matching function are derived. In equilibrium, a higher reservation wage...

This paper presents a non-equilibrium, agent-based model of workers and firms, with on-the-job searching, endogenous entrepreneurial decisions and endogenous wage and income determination. Workers and firms are heterogeneous, and learn their strategy in the labor market. The model is able to...

We propose an agent-based model to investigate the effects of policies against poverty – income support, workfare policies and active labor market programs within different economic and institutional setting