Search Results for author: Karl Naumann-Woleske

Found 5 papers, 1 papers with code

Exploration of the Parameter Space in Macroeconomic Agent-Based Models

no code implementations16 Nov 2021 Karl Naumann-Woleske, Max Sina Knicker, Michael Benzaquen, Jean-Philippe Bouchaud

Inspired by ideas coming from systems biology, we show that for multiple macroeconomic models, including an agent-based model and several Dynamic Stochastic General Equilibrium (DSGE) models, there are only a few stiff parameter combinations that have strong effects, while the other sloppy directions are irrelevant.

Capital Demand Driven Business Cycles: Mechanism and Effects

1 code implementation30 Sep 2021 Karl Naumann-Woleske, Michael Benzaquen, Maxim Gusev, Dimitri Kroujiline

We develop a tractable macroeconomic model that captures dynamic behaviors across multiple timescales, including business cycles.

Economic Crises in a Model with Capital Scarcity and Self-Reflexive Confidence

no code implementations20 Sep 2021 Federico Guglielmo Morelli, Karl Naumann-Woleske, Michael Benzaquen, Marco Tarzia, Jean-Philippe Bouchaud

In the General Theory, Keynes remarked that the economy's state depends on expectations, and that these expectations can be subject to sudden swings.

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