Working Paper n°2017-03 – What drives markups? Evolutionary pricing in an agent-based stock-flow consistent macroeconomic model – Pascal Seppecher (CEPN) Isabelle Salle (Utrecht University) et Marc Lavoie (CEPN)

This paper studies coordination between firms in a multi-sectoral macroeconomic model with endogenous business cycles. Firms are both in competition and interdependent, and set their prices with a markup over unit costs. Markups are heterogeneous and evolve under market pressure. We observe a systematic coordination within firms in each sector, and between each sector. The resulting pattern of relative prices are consistent with the labor theory of value. Those emerging features are robust to technology shocks.

Keywords: …[Lire la suite]

Expiré : 2017/07/17 – July 17th-22nd – Applied Stock-Flow consistent and Agent-based Macro-modelling – Summer School

Paris, July 17th-22nd, 2017
At Maison des Sciences de l’Homme, Université Paris 13, Sorbonne Paris Cité (from Monday to Friday) and the main Campus of Paris 13 in Villetaneuse (on Saturday)
Price: 100 euros

Motivation

The aim of this event is to continue the successful tradition of the winter schools and workshops on stock-flow consistent (SFC) and agent-based modelling which took place at the University of Limerick between 2013 and 2015 as well as the summer school on the same …[Lire la suite]