Listar por autoría "fc96b15f-54d5-4076-ac0a-510e93917954"
Mostrando ítems 1-12 de 12
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Adaptive expectations versus rational expectations: Evidence from the lab
Colasante, Annarita; Palestrini, Antonio; Russo, Alberto; Gallegati, Mauro Elsevier (2017-10)The aim of the present work is to shed light on the extensive debate about expectations in financial markets. We analyze the behaviors of subjects in an experimental environment in which it is possible to observe expectations ... -
Are higher wages good for business? An assessment under alternative innovation and investment scenarios
Caiani, Alessandro; Russo, Alberto; Gallegati, Mauro Cambridge University Press (2020)This paper aims at investigating the interplay between inequality, innovation dynamics, and investment behaviors in shaping the long-run patterns of growth of a closed economy. By extending the analysis proposed in Caiani ... -
Automation, Job Polarisation, and Structural Change
FIERRO, LUCA EDUARDO; Caiani, Alessandro; Russo, Alberto Elsevier (2022-06-28)The increasing automation of tasks traditionally performed by labour is reshaping the relationship between skills and tasks of workers, unevenly affecting labour demand for low, middle, and high-skill occupations. To ... -
Fighting the COVID-19 Crisis: Debt Monetisation and EU Recovery Bonds
Botta, Alberto; Caverzasi, Eugenio; Russo, Alberto Springer (2020-07-28)This paper highlights some peculiar characteristics of the economic crisis induced by the spread of COVID-19. It suggests two intertwined policy measures in order to tackle the emergency phase of the crisis and to support ... -
Firm–bank credit network, business cycle and macroprudential policy
RICCETTI, LUCA; Russo, Alberto; Gallegati, Mauro Springer (2021-02-13)We present an agent-based model to study firm–bank credit market interactions in different phases of the business cycle. The business cycle is exogenously set, and it can give rise to various scenarios. Compared to other ... -
Forecasting in a complex environment: Machine learning sales expectations in a stock flow consistent agent-based simulation model
Catullo, Ermanno; Gallegati, Mauro; Russo, Alberto Elsevier (2022-04-14)The aim of this paper is to investigate how different degrees of sophistication in agents’ behavioral rules may affect individual and macroeconomic performances. In particular, we analyze the effects of introducing into ... -
Inequality-constrained monetary policy in a financialized economy
FIERRO, LUCA EDUARDO; GIRI, FEDERICO; Russo, Alberto Elsevier (2023-10-31)We study how income inequality affects monetary policy through the inequality-household debt channel. We design a minimal macro Agent-Based model that replicates several stylized facts, including two novel ones: falling ... -
Key sectors in Input-Output Production Networks: an application to Brexit
Gallegati, Mauro; Giammetti, Raffaele; Russo, Alberto Wiley (2020)This paper presents the first detailed and holistic description of the European production network (EPN) and provides different rankings of the most 'systemically important' industries involved in Brexit. Employing ... -
Network calibration and metamodeling of a financial accelerator agent based model
Bargigli, Leonardo; RICCETTI, LUCA; Russo, Alberto; Gallegati, Mauro Springer (2020-03-13)We introduce a simple financially constrained production framework in which heterogeneous firms and banks maintain multiple credit connections. The parameters of credit market interaction are estimated from real data in ... -
On the consistency of the individual behavior when facing higher-order risk attitudes
Colasante, Annarita; García-Segarra, Jaume; RICCETTI, LUCA; Russo, Alberto Elsevier Inc. (2022-08-27)We propose and analyze three procedures to elicit participants’ behavior regarding their higherorder risk attitudes. Our procedures relax the rigidity of having to choose among only two alternatives (as usual in the ... -
The financial network channel of monetary policy transmission: an agent-based model
Alexandre, Michel; Lima, Gilberto Tadeu; RICCETTI, LUCA; Russo, Alberto Springer (2023-01-13)The purpose of this paper is to explore the impact of monetary policy shocks on a financial network, which we dub the “financial network channel of monetary policy transmission”. To this aim, we develop a agent-based model ... -
When complexity meets finance: A contribution to the study of the macroeconomic effects of complex financial systems
Botta, Alberto; Caverzasi, Eugenio; Russo, Alberto Elsevier (2020)In the last decade, complexity economics has emerged as a powerful approach to the understanding of the most relevant factors influencing economic development. The concept of economic complexity has been applied to t ...