Optimal inflation target: insights from an agent-based model
نویسندگان
چکیده
منابع مشابه
Learning-by-Modeling: Insights from an Agent-Based Model of University-Industry Relationships
Learning is central in so-called knowledge societies. In order to cope with the complexity of socio-economic phenomena new forms of learning are necessary. We argue that learning-by-modeling is contributing to our knowledge of complex phenomena. The idea of learning-by-modeling is introduced by applying an Agent-based model of UniversityIndustry Relationships.
متن کاملBidding in Interrelated Day-ahead Electricity Markets: Insights from an Agent-based Simulation Model
In this paper we present results from an agent-based simulation model of two sequentially cleared electricity markets. Agents can bid on both a day-ahead market for physical delivery contracts and a day-ahead balancing power market and learn from their achieved results. Different scenarios of the order of market clearing and pricing rules are tested and their results are compared. We show that ...
متن کاملThe social welfare cost of fraud: Insights from an agent-based model
This paper is the first, to our knowledge, to investigate the cost of financial reporting fraud to the real economy by considering how misinformation about competitors’ profits might lead a firm to make misguided decisions when it updates its strategy each period. We use an agent-based model to show that misinformation might significantly slow and/or inhibit firms’ ability to learn about consum...
متن کاملHow Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation∗
We use an agent-based computational approach to show how inflation can worsen macroeconomic performance by disrupting the mechanism of exchange in a decentralized market economy. We find that, in our model economy, increasing the trend rate of inflation above 3 percent has a substantial deleterious effect, but lowering it below 3 percent has no significant macroeconomic consequences. Our findin...
متن کاملHow Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation1
1 Useful comments were received from participants at Leiden and Sophia Antipolis. Financial support from the NSF is gratefully acknowledged.
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Economics
سال: 2018
ISSN: 1864-6042
DOI: 10.5018/economics-ejournal.ja.2018-15