Results 281 to 290 of about 1,365,709 (331)

Essays on heterogeneous agent models

2023
The thesis consists of three chapters. The first chapter examines the behaviour of the New Keynesian (NK) model, which has been extended to include heterogeneous individuals who face idiosyncratic productivity risk. My main focus in this chapter is the heterogeneity innovation of the model, therefore, I consider the relatively simple NK setting where ...
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Estimating Nonlinear Heterogeneous Agents Models with Neural Networks

SSRN Electronic Journal, 2022
Economists typically make simplifying assumptions to make the solution and estimation of their highly complex models feasible. These simplifications include approximating the true nonlinear dynamics of the model, disregarding aggregate uncertainty or assuming that all agents are identical.
Kase, Hanno, Melosi, Leonardo, Rottner, Matthias   +2 more
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Event-triggered consensus control of heterogeneous multi-agent systems: model- and data-based approaches

Science China Information Sciences, 2022
This article addresses the model- and data-based event-triggered consensus of heterogeneous leader/follower multi-agent systems (MASs). A dynamic periodic transmission protocol is developed to alleviate the communication and computational burden, where ...
Xin Wang, Jian Sun, Fang Deng, G. Wang, Jie Chen   +4 more
semanticscholar   +1 more source

The Trouble with Rational Expectations in Heterogeneous Agent Models: A Challenge for Macroeconomics

Economic Journal
The thesis of this essay is that, in heterogeneous agent macroeconomics, the assumption of rational expectations about equilibrium prices is unrealistic and should be replaced.
Benjamin Moll
semanticscholar   +1 more source

Modelling Heterogeneity in Multi Agent Systems

2002
The aim of this paper is to consider the issue of heterogeneity in modelling complex systems through a multi agent perspective. Complex systems are often characterized by a high degree of heterogeneity of the involved components and by their natural aggregation in communities representing different views of the same system.
Bandini, S, Manzoni, SL, SIMONE, CARLA
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A dynamic exchange rate model with heterogeneous agents [PDF]

Journal of Evolutionary Economics, 2017
In this paper, we analyze a heterogeneous agent model in which the fundamental exchange rate is endogenously determined by the real markets. The exchange rate market and the real markets are linked through the balance of payments. We have analytically found that there exists at least a steady state in which the exchange rate is equal to its fundamental
GORI, MICHELE, RICCHIUTI, GIORGIO
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Pseudospectral methods for continuous-time heterogeneous-agent models

Journal of Economic Dynamics and Control, 2023
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Reconstructing Aggregate Dynamics in Heterogeneous Agents Models

Revue de l'OFCE, 2012
The restrictive assumptions imposed by the traditional methods of aggregation prevented so far a sound analysis of complex system of feedback between microeconomic variables and macroeconomic outcomes. This issue seems to be crucial in macroeconomic modelling, in particular for the analysis of financial fragility, as conceived in the Keynesian and New ...
Domenico Delli Gatti, Corrado Di Guilmi, Mauro Gallegati, Simone Landini   +3 more
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Modeling Financial Markets with Heterogeneous Agents

2013
I construct a dynamic equilibrium model of storable commodities populated by producers, dealers, and households. When financial innovation allows households to trade in futures markets, they choose a long position that leads to lower equilibrium excess returns on futures, a more frequently upward-sloping futures curve, and higher volatility in futures ...
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Approximate Aggregation in Heterogeneous-Agent Models [PDF]

, 2009
of the model solutions with a reduced set of state variables.
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