Logo GREThA

First Bordeaux Workshop on
Agent-Based Macroeconomics

November 7-8, 2013


Organized by:

GREThA (UMR CNRS 5113) and Bank of Finland

Last update of the page: November 3, 2013

Agent-based models have become an important framework for analyzing complex macroeconomic dynamics resulting from the interaction of heterogeneous agents with bounded rationality. This framework frees the modeler from the constraints imposed by the substantive rationality, equilibrium, and rational expectations assumptions, and naturally provides alternative micro foundations to the analysis of macroeconomic dynamics, the emergence of complex aggregate behavior, the effects of economic policies.

A strong flow of models have been proposed during the recent years and this workshop aims at drawing an account of the main contributions of these developments, as well to discuss the perspectives for future research.

The workshop will include three thematic sessions, and a closing round table.

Sessions:
Each session will be opened by a keynote speaker (45 minutes), followed by a Pause-café (15 minutes), three presentations (30 minutes each), discussion (30 minutes)

Round Table on the future of Macro ABM, new questions and perspectives with Jasmina Arifovic, Paul de Grauwe, Domenico Delli Gatti, Giovanni Dosi, Mauro Gallegati, Cars Hommes, and Jouko Vilmunen.

The workshop will take place at the Bordeaux IV University, Avenue Léon Duguit, 33608 Pessac, France.

Please send all inquiries and submitted articles to Murat Yildizoglu, yildi@u-bordeaux4.fr


Practical details

The workshop will take place in the Salle Manon Cormier, at the University Bordeaux IV (building 21, front door, in the map of the campus).

The University is connected to the city center by tramway: Line B, Stop Montaigne-Montesquieu, 20 minutes of ride.

There will be no registration fee. A lunch will be offered to all speakers for both days, and a dinner for November 7 and 8.

Contact: Murat Yildizoglu (see above for the mail address)

Hotels at the city center close to the tramway line

Map city center and friday dinner

Lunches will take place at La Passerelle, at a walking distance from the workshop - Map

Download all maps in a zip archive


Program

First day: Thursday, November 7, 2013

9:45 - Opening of the workshop

10:00-13:00: Session A

10:00-10:45, Domenico Delli Gati, Agent-based macroeconomics: Methods, myths and models - Slides

10:45-11:00, Coffee break

11:00-11:30, Emergent Dynamic Behavior of a Macroeconomic Agent Based Model,
by Jakob Grazzini, Tiziana Assenza and Domenico Delli Gatti

11:30-12:00, Spatial labor market frictions and economic convergence: policy implications from a heterogeneous agent model,
by H. Dawid, P. Harting, and M. Neugart - Paper

12:00-12:30, Bubbles, Crashes & the Financial Cycle,
by Sander van der Hoog and Herbert Dawid - Eurace@Unibi Paper - Slides

12:30-13:00, Discussion

13:00-15:00: Lunch

15:00-18:00: Session B 

15:00-15:45, Cars Hommes, Behavioral Rationality and Heterogeneous Expectations in Macroeconomics
Paper 1 - Paper 2

15:45-16:00, Coffee break

16:00-16:30, How Transparent About Its Inflation Target Should a Central Bank be? An Agent-Based Model Assessment,
by Isabelle Salle, Marc-Alexandre Sénégas and Murat Yıldızoğlu - Paper

16:30-17:00, Appropriate Macroeconomic Policy for Complex Economies,
by Giovanni Dosi, Giorgio Fagiolo, Mauro Napoletano, Andrea Roventini and Tania Treibich - Paper

17:00-17:30, Price-Quantity Setting in Monopolistic Competition,
by Tiziana Assenza, Jakob Grazzini, Cars Hommes and Domenico Massaro

17:30-18:00, Discussion

18:00-20:00, Transfert by bus to the restaurant

20:00, Dinner at Les sources de Caudalie

※※※

Second day: Friday, November 8, 2013

10:00-13:00: Session C: 

10:00-10:45, Mauro Gallegati, Resilience, Leverage and Credit Network in Agent Based Models - Slides

10:45-11:00, Coffee break

11:00-11:30, A Boom-Bust Business Cycle Model with Search-for-Yield and Heterogeneous Expectations in the Bond Market,
by Carl Chiarella, Corrado Di Guilmi and Timo Henckel - Paper

11:30-12:00, The Impact of Basel III on Financial (In)stability – An Agent-Based Credit Network Approach,
by Sebastian Krug, Matthias Lengnick and Hans-Werner Wohltmann - Paper

12:00-12:30, Sand in the Wheels or the Wheels in Sand? Tobin Taxes and Market Crashes,
by Hynek Lavička, Tomáš Lichard, and Jan Novotný - Paper

12:30-13:00, Discussion

13:00-15:00: Lunch

Round table

15:00-18:00: Round Table on the future of Macro ABM, new questions and perspectives with
Jasmina Arifovic, Paul de Grauwe, Domenico Delli Gatti ,Giovanni Dosi, Mauro Gallegati, Cars Hommes, and Jouko Vilmunen.

20:00, Closing dinner at the city center (Bistrot Gabriel)

 

November 9: Mille mercis to all the participants for an amazing and very motivating workshop!

 


Invited participants:

Jasmina Arifovic, Simon Fraser University

Domenico Delli Gatti, Universita Catholico de Milan

Giovanni Dosi, Scuola Sant'anna

Mauro Gallegati, Università Politecnica delle Marche

Cars Hommes, University of Amsterdam

Jouko Vilmunen, Bank of Finland Research Department

We gratefully acknowledge the support by the Bank of Finland, the Montesquieu Bordeaux IV University, and the GDRe Monnaie, Banque, Finance.

This workshop is also affiliated to the Society for Computational Economics.


Murat Yildizoglu's web site

Photo credits: Murat Yildizoglu