Search Results - "Journal of economic dynamics & control"

Agent based-stock flow consistent macroeconomics: Towards a benchmark model by Caiani, Alessandro, Godin, Antoine, Caverzasi, Eugenio, Gallegati, Mauro, Kinsella, Stephen, Stiglitz, Joseph E.

“…The paper moves from a discussion of the challenges posed by the crisis to standard macroeconomics and the solutions adopted within the DSGE community…”
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Agent-based model calibration using machine learning surrogates by Lamperti, Francesco, Roventini, Andrea, Sani, Amir

“…Efficiently calibrating agent-based models (ABMs) to real data is an open challenge. This paper explicitly tackles parameter space exploration and calibration…”
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The macroeconomics of central bank digital currencies by Barrdear, John, Kumhof, Michael

“…We study the macroeconomic consequences of issuing central bank digital currency (CBDC) - a universally-accessible and interest-bearing central bank liability…”
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Estimating and simulating a SIRD Model of COVID-19 for many countries, states, and cities by Fernández-Villaverde, Jesús, Jones, Charles I.

“…We use data on deaths in New York City, Madrid, Stockholm, and other world cities as well as in various U.S. states and other regions and countries to…”
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Liquidity constrained exporters by Chaney, Thomas

“…I propose a model of international trade with liquidity constraints. If firms must pay a fixed entry cost in order to access foreign markets, and if they face…”
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Central bank digital currency and monetary policy by Davoodalhosseini, Seyed Mohammadreza

“…Many central banks are contemplating whether to issue a central bank digital currency (CBDC). A CBDC has certain potential benefits, including the possibility…”
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Impact of macroeconomic news, regulation and hacking exchange markets on the volatility of bitcoin by Lyócsa, Štefan, Molnár, Peter, Plíhal, Tomáš, Širaňová, Mária

“…We study whether news and sentiment about bitcoin regulation, the hacking of bitcoin exchanges and scheduled macroeconomic news announcements affect the…”
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Fiscal and monetary policies in complex evolving economies by Dosi, Giovanni, Fagiolo, Giorgio, Napoletano, Mauro, Roventini, Andrea, Treibich, Tania

“…What is the most appropriate combination of fiscal and monetary policies in economies subject to banking crises and deep recessions? We study this issue using…”
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Income distribution, credit and fiscal policies in an agent-based Keynesian model by Dosi, Giovanni, Fagiolo, Giorgio, Napoletano, Mauro, Roventini, Andrea

“…This work studies the relations between income distribution and monetary/fiscal policies using an credit-augmented version of the agent-based Keynesian model…”
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Liaisons dangereuses: Increasing connectivity, risk sharing, and systemic risk by Battiston, Stefano, Delli Gatti, Domenico, Gallegati, Mauro, Greenwald, Bruce, Stiglitz, Joseph E.

“…The recent financial crisis poses the challenge to understand how systemic risk arises endogenously and what architecture can make the financial system more…”
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Bayesian estimation of agent-based models by Grazzini, Jakob, Richiardi, Matteo G., Tsionas, Mike

“…We consider Bayesian inference techniques for agent-based (AB) models, as an alternative to simulated minimum distance (SMD). Three computationally heavy steps…”
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Central bank digital currency and flight to safety by Williamson, Stephen D.

“…A model is developed with a novel approach to analyzing banking panics in general equilibrium. Banks may fail, and bank insolvency potentially drives banking…”
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Fiscal policy during a pandemic by Faria-e-Castro, Miguel

“…I study the effects of the 2020 coronavirus outbreak in the United States and subsequent fiscal policy response in a nonlinear DSGE model. The pandemic is a…”
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Nonlinear adventures at the zero lower bound by Fernández-Villaverde, Jesús, Gordon, Grey, Guerrón-Quintana, Pablo, Rubio-Ramírez, Juan F.

“…In this paper, we argue for the importance of explicitly considering nonlinearities in analyzing the behavior of the New Keynesian model with a zero lower…”
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Modeling loss-propagation in the global supply network: The dynamic agent-based model acclimate by Otto, C., Willner, S.N., Wenz, L., Frieler, K., Levermann, A.

“…World markets are highly interlinked and local economies extensively rely on global supply and value chains. Consequently, local production disruptions, for…”
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Uncertainty-dependent effects of monetary policy shocks: A new-Keynesian interpretation by Castelnuovo, Efrem, Pellegrino, Giovanni

“…We estimate a nonlinear VAR model to study the real effects of monetary policy shocks in regimes characterized by high vs. low macroeconomic uncertainty. We…”
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An empirical study of the Mexican banking system’s network and its implications for systemic risk by Martinez-Jaramillo, Serafin, Alexandrova-Kabadjova, Biliana, Bravo-Benitez, Bernardo, Solórzano-Margain, Juan Pablo

“…With the aim to measure and monitor systemic risk, we present some topological metrics for the interbank exposures and the payments system networks. The…”
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Capital-labor substitution, structural change and the labor income share by Alvarez-Cuadrado, Francisco, Long, Ngo Van, Poschke, Markus

“…Recent work has documented declines in the labor income share in the United States and beyond. This paper documents that this decline was more pronounced in…”
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What is the minimal systemic risk in financial exposure networks? by Diem, Christian, Pichler, Anton, Thurner, Stefan

“…We quantify how much systemic risk can be eliminated in financial contract networks by rearranging their network topology. By using mixed integer linear…”
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Effects of US quantitative easing on emerging market economies by Bhattarai, Saroj, Chatterjee, Arpita, Park, Woong Yong

“…We estimate international spillover effects of US Quantitative Easing (QE) on emerging market economies (EMEs). Using a Bayesian panel VAR we find that an…”
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