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1 novembre 2014
- ISIDORE Id: 10670/1.025510...
- hal: hal-03429896
- SCIENCESPO: 2441/7d4rsl1jm8p58ajgfgslld612
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info:eu-repo/semantics/altIdentifier/hdl/2441/7d4rsl1jm8p58ajgfgslld612
info:eu-repo/semantics/OpenAccess
Mots-clés
agent-based model Fiscal policy Economic crises Austerity policies Disequilibrium dynamics C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C63 - Computational Techniques • Simulation Modeling E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles/E.E3.E32 - Business Fluctuations • Cycles E - Macroeconomics and Monetary Economics/E.E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit/E.E5.E52 - Monetary Policy G - Financial Economics/G.G2 - Financial Institutions and Services/G.G2.G21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages O - Economic Development, Innovation, Technological Change, and Growth/O.O4 - Economic Growth and Aggregate Productivity E - Macroeconomics and Monetary Economics/E.E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General OutlookSujets proches
Kinetics Dynamical systemsCiter ce document
Giovanni Dosi et al., « Micro and macro policies in the Keynes + Schumpeter evolutionary models », HAL SHS (Sciences de l’Homme et de la Société), ID : 10670/1.025510...
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Résumé
This paper presents the family of the Keynes+Schumpeter (K+S, cf. Dosi et al, 2010, 2013,2014) evolutionary agent-based models, which study the effects of a rich ensemble of innovation,industrial dynamics and macroeconomic policies on the long-term growth and short-runfluctuations of the economy. The K+S models embed the Schumpeterian growth paradigminto a complex system of imperfect coordination among heterogeneous interacting firms andbanks, where Keynesian (demand-related) and Minskian (credit cycle) elements feed backinto the meso and macro dynamics. The model is able to endogenously generate long-rungrowth together with business cycles and major crises. Moreover, it reproduces a long list ofmacroeconomic and microeconomic stylized facts. Here, we discuss a series of experimentson the role of policies affecting i) innovation, ii) industry dynamics, iii) demand and iv)income distribution. Our results suggest the presence of strong complementarities betweenSchumpeterian (technological) and Keynesian (demand-related) policies in ensuring that theeconomic system follows a path of sustained stable growth and employment
