JAS-mine Files

MacroABM

By Hugo Lhuillier (2016) and Ross Richardson (2018)

This macroeconomic-financial model is inspired by the agent-based model described in the paper "Income distribution, credit and fiscal policies in an agent-based Keynsian model" (Dosi, Fagiolo, Napoletano and Roventini, 2013), which extends work presented in "Schumpeter meeting Keynes: a policy-friendly model of endogenous growth and business cycles" (Dosi, Fagiolo and Roventini, 2010), both published in the Journal of Economic Dynamics and Control. We refer the reader to both papers for more information on the background and theoretical roots of the model. For a detailed description of the implementation of this model in JAS-mine, please see http://www.jas-mine.net/demo/macro-model.

As described in the paper, the model features "a banking sector and a monetary authority setting interest rates and credit lending conditions in a framework combining Keynesian mechanisms of demand generation, a Schumpeterian innovation-fueled process of growth and Minskian credit dynamics."

The MacroABM.jar is a runnable Java (archive) file - download and run this file if you just want to execute the model, without looking at the source code.  If you do want to access the source code of the project, either clone the GitHub repository at https://github.com/jasmineRepo/MacroABM, or download and unzip the MacroABM.zip file, which contains the Java project.  We recommend Eclipse IDE (http://www.eclipse.org/downloads/eclipse-packages/) as a developer environment in which to explore the source code.

Acknowledgements

The JAS-mine team (Matteo Richiardi, Ross Richardson and Hugo Lhullier) thanks Mauro Napoletano, Andrea Roventini and Tania Treibich for providing a version of the source code of the Dosi et al. (2013) paper, and for help and support during implementation. The JAS-mine MacroABM model is a reinterpretation of the original model, and should NOT be considered simply as a porting of that model into JAS-mine.