First Bordeaux-Milano Joint Workshop on Agent-Based Macroeconomics

Bordeaux - June 4-5, 2015

Organized by: GREThA (UMR CNRS 5113), Bordeaux University and CLE, Catholic University of Milan

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 large number 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. It follows the First Bordeaux Workshop organized in 2014, and it constitutes the first edition of a series of yearly workshops that will be organized by GREThA and CLE, alternatively between Bordeaux and Milano.  A special issue of Complexity Economics will be devoted to the workshop.

Definitive program

25 minutes for each presentation and supplementary time for discussion.

(Photos from the workshop below)

Deadline for submission for the special issue of Complexity Economics: June 25, 2015

June 4th

9.00 - 10:15 - Session 1 - Chair: Murat Yildizoglu
•    Bubbles, Crashes and the Financial Cycle: The Limits to Credit Growth
➢    S. van der Hoog and H. Dawid
•    Bubble-and-bust dynamics under walrasian asset pricing and heterogeneous traders
➢    G. Dosi and J. Staccioli

Coffee break

10.45 - 12.00 - Session 2 - Chair: Marc-Alexandre Sénégas
•    Inequality, Household Debt and Financial Instability: An Agent-Based Perspective
➢    A. Cardaci
•    Catching up with the Joneses and borrowing contraints - An agent-based analysis of houshold debt
➢    N. König And I. Grössl

Lunch at Le Bistrot du Musée

14 .30 - 16 :30 Session 3 - Chair: Domenico Delli Gatti

•    Increasing Inequality, Consumer Credit and Financial Fragility in an Agent Based Macroeconomic Model
➢    A. Russo, L . Riccetti and M. Gallegati
•    The Complex Interactions between Economic Growth and Market Concentration in a Model of Structural Change
➢    T. Ciarli; M. Valente

Dinner at Bistrot Gabriel

June 5th

9:30 - 10:45 - Session 4 - Chair: Tizana Assenza

•    The Short- and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter
➢    G. Dosi, M. Napoletano, A. Roventini and T. Treibich
•    Taming Macroeconomic Instability: Monetary and Macro Prudential Policy Interactions in an Agent-based Model
➢    L. Popoyan, A. Roventini and M. Napoletano

Coffe break

11:15- 12 :30 -  Session 5 - Chair: Martin Zumpe

•    Policy Experiments in a Macro ABM with Capital and Credit
➢    T.Assenza, P.Colzani, D.Delli Gatti, J.Grazzini

Lunch at Le Bistrot du Musée

14:30 - 17 :00 - Session 6 - Chair: Murat Yildizoglu

•    Outside the corridor: fiscal multipliers and business cycles into an agent-based model with liquidity contraints
➢    M. Napoletano, J-L. Gaffard and A. Roventini
•    The footprint of evolutionary processes of learning and selection upon the statistical properties of industrial dynamics
➢    G. Dosi; M. Pereira and M.E. Virgillito
•    Non-Parametric Simulated Maximum Likelihood Estimation of Parameters in Heterogeneous Agent Models
➢    J. Kukucka; J.Barunik

17:00- 17:30 : Perspectives and conclusions - Chair: Tiziana Assenza

  19:30 : Transfer by bus to the closing Dinner at Les sources de Caudalie
              A dedicated bus will be waiting for you until 19:30 at Place de Quinconces, Allées de Bristol.

Please send all inquiries to Murat Yildizoglu,

Organizers: Tiziana Assenza, Domenico Delli Gatti, Murat Yildizoglu, Johannes van der Pol and Martin Zumpe

The workshop will take place at Pôle Juridique et Judiciaire, 35 Place Pey Berland, Bordeaux.

Closing dinner: Sources de Caudalie: