Agent-based modelling and simulation for macroeconomic systems

  • Andrea Roventini – Scuola Superiore Sant’Anna di Pisa, Italia
  • Track de Socioeconomía Computacional

Nota: El curso será dictado en Inglés

Resumen

The course provides an overview of agent-based macroeconomics from both theoretical and applied perspectives. After having discussed the limit of standard Dynamic Stochastic General Equilibrium (DSGE) models, the agent-based computational economic approach is presented, stressing its possible applications to economic policy. Different agent-based models are then introduced (i) to stress the role of agent heterogeneity and interactions for the emergence of endogenous growth; (ii) to study how the economy self-organize after business-cycle shocks; (iii) to analyze the joint impact of monetary and macro-prudential policies; (iv) to assess how endogenous growth, catching-up and divergence patterns emerge in an open-economy, multy-country framework. Finally, the family of the Schumpeter meeting Keynes (K+S) models is presented, stressing its capability to jointly account for endogenous growth and fluctuations and macro and micro stylized facts.

Temario

• From DSGE models to macroeconomic ABMS • Exploring the role of heterogeneity and interactions with “simple” macro ABMs • Endogenous growth agent-based models • Financial stability in agent-based macroeconomics • The Schumpeter meeting Keynes model • The labor-augmented Schumpeter meeting Keynes model • The DSK: an integrated-assessment agent-based model.

Prerrequisitos

Elementary notions of economics can help (not mandatory).

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