Using difference equations to find optimal tax structures on the SugarScapeJournal of Economic Interaction and Coordination - Tập 9 - Trang 233-253 - 2014
Matthew Oremland, Reinhard Laubenbacher
The use of equations to describe agent-based model dynamics allows access to mathematical theory that is not otherwise available. In particular, equation models can be effective at solving optimization problems—that is, problems concerning how an agent-based model can be most effectively steered into a particular state. In order to illustrate this strategy, we describe a modified version of the we...... hiện toàn bộ
Combining monetary policy and prudential regulation: an agent-based modeling approachJournal of Economic Interaction and Coordination - Tập 15 - Trang 385-411 - 2017
Michel Alexandre, Gilberto Tadeu Lima
This paper explores the interaction between monetary policy and prudential regulation in an agent-based modeling framework. Firms borrow funds from the banking system in an economy regulated by a central bank. The central bank carries out monetary policy, by setting the interest rate, and prudential regulation, by establishing the banking capital requirement. Different combinations of interest rat...... hiện toàn bộ
Agent based model of a simple economyJournal of Economic Interaction and Coordination - Tập 7 - Trang 209-221 - 2012
Vladimír Gazda, Marek Gróf, Július Horváth, Matúš Kubák, Tomáš Rosival
This article proposes a model of a simple economy based on a set of agent-based modeling principles. The model is based on the “trust game” formulated by Berg et al. (Games Econ Behav 10:122–142, 1995), and anticipates a random matching of partners taking in to account adaptive agent behavior. Simulation in the NetLogo programming environment, using profile distributions obtained from empirical st...... hiện toàn bộ
Limits to the equilibrating capabilities of market systemsJournal of Economic Interaction and Coordination - Tập 4 - Trang 173-182 - 2009
Axel Leijonhufvud
Serious macroproblems are not a simple result of inflexibilities of prices. Standard economic theory does not help our understanding of the role of money and of monetary institutions in disturbed states of the economy. Several examples are discussed.
Equilibrium distribution of labor productivity: a theoretical modelJournal of Economic Interaction and Coordination - Tập 10 - Trang 57-66 - 2013
Hideaki Aoyama, Hiroshi Iyetomi, Hiroshi Yoshikawa
We construct a theoretical model for equilibrium distribution of workers across sectors with different labor productivity, assuming that a sector can accommodate a limited number of workers which depends only on its productivity. A general formula for such distribution of productivity is obtained, using the detail-balance condition necessary for equilibrium in the Ehrenfest–Brillouin model. We als...... hiện toàn bộ
Stochastic models of resonating marketsJournal of Economic Interaction and Coordination - Tập 5 - Trang 77-88 - 2009
Carlo Lucheroni
This paper describes a way to model a seasonally and irregularly peaking price dynamics, as that originated in commodity and energy markets, using a system of coupled nonlinear stochastic differential equations. The specific case of an electric power market is used to show which microeconomic features this approach is able to model. Critical point analysis is used in a simple way to show how the i...... hiện toàn bộ
Micro-macro relation of production: double scaling law for statistical physics of economyJournal of Economic Interaction and Coordination - Tập 10 - Trang 67-78 - 2014
Hideaki Aoyama, Yoshi Fujiwara, Mauro Gallegati
We show that an economic system populated by multiple agents generates an equilibrium distribution in the form of multiple scaling laws of conditional probability density functions, which are sufficient for characterizing the probability distribution. The existence of the double scaling law is demonstrated empirically for the sales and the labor of one million Japanese firms. Theoretical study of ...... hiện toàn bộ
A note on the relationship between the total factor productivity and the network of firmsJournal of Economic Interaction and Coordination - Tập 14 - Trang 419-423 - 2017
Antonio Palestrini, Enrico Guzzini
In this paper we study the robustness of the results found recently by Guzzini and Palestrini (J Econ Interact Coord 11:35–55, 2016). Since the original analysis was carried out in a static setting, we perform a dynamic panel analysis by using the same dataset. The inclusion of the lagged value of the endogenous variable, missing in the original paper, could be justified for several reasons. First...... hiện toàn bộ