no code implementations • 2 Jun 2023 • Max Sina Knicker, Karl Naumann-Woleske, Jean-Philippe Bouchaud, Francesco Zamponi
We include a mechanism through which trust of economic agents in the Central Bank can de-anchor.
no code implementations • 17 Jan 2023 • Karl Naumann-Woleske
Climate change is a major global challenge today.
no code implementations • 16 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.
1 code implementation • 30 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.
no code implementations • 20 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.