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Jamel, a Java Agent-based MacroEconomic Laboratory

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  • Pascal Seppecher

    ()
    (CEMAFI - Centre d'Etudes en Macroéconomie et Finance Internationale - Université de Nice Sophia Antipolis (UNS), GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR7321 - Université de Nice Sophia Antipolis (UNS))

Abstract

This paper presents a computational macroeconomic model which closely associates Keynesian thinking and an agent-based approach. This model is original because we do not introduce any causality between macroeconomic variables. Instead of postulate macroeconomic properties, we want to understand them by the methodic reconstruction of the conditions of their emergence, starting from their most elementary foundations: the interactions between individual agents. This model is the model of a dynamic out-of-equilibrium economy composed of two principal sets of agents (firms and households) associated with two main functions (production and consumption). The agents are not representative agents or aggregates but autonomous individuals in direct and indirect interactions, each of them pursuing its own purposes, acting according to their individual state and their local environment, without worrying about the general equilibrium of the system and without any overriding control.

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Bibliographic Info

Paper provided by HAL in its series Working Papers with number halshs-00697225.

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Date of creation: 14 May 2012
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Handle: RePEc:hal:wpaper:halshs-00697225

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00697225
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Related research

Keywords: Agent-based computational economics ; Heterogeneous agents ; Endogenous money ; Monetary macroeconomics ; Bounded rationality;

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  1. Pascal Seppecher, 2009. "Un modèle macroéconomique multi-agents avec monnaie endogène," Working Papers halshs-00370716, HAL.
  2. Herbert A. Simon, 1996. "The Sciences of the Artificial, 3rd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691914, December.
  3. Dumenil, Gerard & Levy, Dominique, 1987. "The Dynamics of Competition: A Restoration of the Classical Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 11(2), pages 133-64, June.
  4. Graziani,Augusto, 2003. "The Monetary Theory of Production," Cambridge Books, Cambridge University Press, number 9780521812115.
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