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    • openAccess   Business Cycle Fluctuations, Economic Growth & Granular Behavior: An Agent-Based Approach 

      Blanco Arroyo, Omar Universitat Jaume I (2017-09-26)
      This work proposes a generalization of Delli Gatti et al.’s (2005) model in order to study the granular behavior observed empirically (Gabaix, 2011), namely a few very large firms are able to account for a very high ...

    • openAccess   El comercio de cabotaje del vino de Jerez en el siglo XIX: un análisis cuantitativo 

      Cárdenas del Rey, Luis; Carrera, Andrea; Vitriago Valdivielso, Laura Sociedad Española de Historia Agraria (2015-04)
      In this paper, we tackle the most relevant aspects of the evolution in the market for sherry wine by studying the coastal trade in the region of Cadiz during the period 1857-1900. We develop a database using the information ...

    • openAccess   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 ...

    • openAccess   Fiscal Multipliers and Forecast Errors 

      Gil Gallen, Sara Universitat Jaume I (2018-10-24)
      The study of the fiscal multipliers is growing interest among economists and generating quite a debate on their determinants, size and forecast methodologies. During the financial crisis there has been some forecasting ...

    • openAccess   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 ...

    • openAccess   Idiosyncratic Volatility Shocks and Aggregate Fluctuations: An Appraisal of the Spanish Case 

      Blanco Arroyo, Omar Universitat Jaume I (2016-06-14)
      The aim of this work is to find empirical evidence, in case it exists, about the granularity of the Spanish economy. The Granular Hypothesis (Gabaix 2011) has been tested for Spain between the years 1990 and 2014. For ...

    • closedAccess   Leverage and GDP volatility 

      Torregrosa Torrejón, Alejandro Universitat Jaume I (2016-01-26)
      The Descriptive evidence, classify the firms: in firms with Leverage over the average, firms with Leverage down the average and firms with Leverage between the mean and median (the most efficient group). This part also ...

    • closedAccess   Market power, technical progress and financial fragility 

      Delli Gatti, Domenico; GALLEGATI, MARCO; Palestrini, Antonio; Tedeschi, Gabriele; Vidal-Tomás, David Elsevier (2024)
      We explore the nexus of market power, innovation and financial fragility by means of a macroeconomic agent based model whose core is the Dixit-Greenwald-Stiglitz (DGS) theory of firm behaviour, which nests the Greenwald-Stiglitz ...