A basic New Keynesian DSGE model with dispersed information: An agent-based approach

Alessandro Gobbi, Jakob Grazzini

Risultato della ricerca: Contributo in rivistaArticolo in rivistapeer review

5 Citazioni (Scopus)

Abstract

The aim of this paper is to bridge macro agent-based models with mainstream macroeconomic models by agentifying the baseline New Keynesian DSGE model. The model features multiple, boundedly rational, optimizing agents and is analyzed through numerical simulations. We exploit the flexibility of agent-based modeling to explore the effect of dispersed information on the learning process and on macroeconomic outcomes. We find that with dispersed information monetary and fiscal policy acquire the role of public signals.
Lingua originaleEnglish
pagine (da-a)101-116
Numero di pagine16
RivistaJOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
Volume157
DOI
Stato di pubblicazionePubblicato - 2018

Keywords

  • Agent-based models
  • DSGE models

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