jasmineRepo / MacroABM

This macroeconomic-financial model is inspired by the agent-based model described in the paper "Income distribution, credit and fiscal policies in an agent-based Keynsian model" by Dosi, Fagiolo, Napoletano and Roventini (2013, Journal of Economic Dynamics and Control).

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MacroABM

By Hugo Lhuillier (2016), with some minor updates by Ross Richardson (2018).

This macroeconomic-financial model is inspired by the agent-based model described in the paper "Income distribution, credit and fiscal policies in an agent-based Keynsian model" (Dosi, Fagiolo, Napoletano and Roventini, 2013), which extends work presented in "Schumpeter meeting Keynes: a policy-friendly model of endogenous growth and business cycles" (Dosi, Fagiolo and Roventini, 2010), both published in the Journal of Economic Dynamics and Control. We refer the reader to both papers for more information on the background and theoretical roots of the model. For a detailed description of the implementation of this model in JAS-mine, please see http://www.jas-mine.net/demo/macro-model.

As described in the paper, the model features "a banking sector and a monetary authority setting interest rates and credit lending conditions in a framework combining Keynesian mechanisms of demand generation, a Schumpeterian innovation-fueled process of growth and Minskian credit dynamics."

Acknowledgements

The JAS-mine team (Matteo Richiardi, Ross Richardson and Hugo Lhullier) thanks Mauro Napoletano, Andrea Roventini and Tania Treibich for providing a version of the source code of the Dosi et al. (2013) paper, and for help and support during implementation. The JAS-mine MacroABM model is a reinterpretation of the original model, and should NOT be considered simply as a porting of that model into JAS-mine.

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This macroeconomic-financial model is inspired by the agent-based model described in the paper "Income distribution, credit and fiscal policies in an agent-based Keynsian model" by Dosi, Fagiolo, Napoletano and Roventini (2013, Journal of Economic Dynamics and Control).


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