Despite empirical evidence of permanent damages to GDP after the 2008 global financial crisis, there is little theoretical consensus about the impact of the crisis on the unobservable rate of capacity utilization. In this paper, we investigate how the rate of capacity utilization reacts to shocks by testing the hypothesis that the normal rate of capacity utilization is exogenous and constant, against the alternative hypothesis that it is endogenous to demand and can vary with time. We find …[Lire la suite]
Working Paper n°2019-09 – Capacity Utilization and the NAIRCU: Evidences of Hysteresis in EU countries – Federico Bassi
Most empirical studies provide evidence that the rate of capacity utilization is stable around a constant Non-accelerating inflation rate of capacity utilization (NAIRCU). Nevertheless, available statistical series of the rate of capacity utilization, which is unobservable, are constructed by assuming that it is stable over time. Hence, the stability of the NAIRCU is an artificial artefact. In this paper, we develop a method to estimate the rate of capacity utilization without imposing stability constraints. Partially inspired to the …[Lire la suite]
Expiré : 2018/12/14 – 14 décembre – Workshop Modelling and analysis of complex monetary economies V (MACME 5)
The MACME project develops alternative economic models to the ones used by the dominant economic theory, of which the “dynamic stochastic general equilibrium” (DSGE).
Understanding and predicting economic dynamics require that the complexity of modern monetary economies is considered. Within the MACME project, we build rich and innovative agent-based and/or stock-flow consistent models, able to account for a large number of phenomena and in which crises can be endogenous and history matters.
The team organizes an …[Lire la suite]
Uber ne fait pas partie d’une économie “collaborative”
24 novembre 2017
Ana Sofia Acosta Alvarado, Federico Bassi, Louison Cahen-Fourot, Bruno Carballa-Smichowski, Alexis Jeamet, Ludwig List, Nicolas Pinsard, Maria Roubtsova
Expiré : 2017/11/24 – 24 novembre – Workshop MACME 4
Le quatrième workshop MACME (Modeling and Analysis of Complex Monetary Economies) se tiendra le vendredi 24 novembre 2017, à l’Auditorium de la Maison des sciences de l’Homme de Paris Nord.
Au programme : Gérard Ballot, Federico Bassi, Antoine Godin, Maxime Gueuder, Jean-Daniel Kant, Dany Lang, Marc Lavoie, André Lorentz, Italo Pedrosa, Maria Roubtsova, Andrea Roventini, Pascal Seppecher, Oliver Williams.
2016/12/08 – 8 décembre – MACME III – Modeling and Analysis of Complex Monetary Economies
Chères et chers collègues,
La troisième édition du colloque MACME aura lieu le jeudi 8 décembre de 9h à 19h, amphi A, sur le campus de Villetaneuse.
Le projet MACME, construit avec nos collègues du Laboratoire d’informatique de Paris Nord, vise à rassembler informaticiens et économistes désireux de travailler ensemble sur les modèles à base d’agents et stock-flux cohérents. Il s’agit de contribuer, à notre modeste niveau, à la dynamique internationale d’émergence de modèles …[Lire la suite]