250 citations · 1.3k across the 60 of their papers we have counts for
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Exploration of the Parameter Space in Macroeconomic Agent-Based Models
Karl Naumann-Woleske, Max Sina Knicker, Michael Benzaquen +1
Agent-Based Models (ABM) are computational scenario-generators, which can be used to predict the possible future outcomes of the complex system they represent. To better understand…
Capital Demand Driven Business Cycles: Mechanism and Effects
Karl Naumann-Woleske, Michael Benzaquen, Maxim Gusev +1
We develop a tractable macroeconomic model that captures dynamic behaviors across multiple timescales, including business cycles. The model is anchored in a dynamic capital demand…
Economic Crises in a Model with Capital Scarcity and Self-Reflexive Confidence
Federico Guglielmo Morelli, Karl Naumann-Woleske, Michael Benzaquen +2
In the General Theory, Keynes remarked that the economy's state depends on expectations, and that these expectations can be subject to sudden swings. In this work, we develop a mul…
Out-of-Equilibrium Dynamics and Excess Volatility in Firm Networks
Théo Dessertaine, José Moran, Michael Benzaquen +1
We study the conditions under which input-output networks can dynamically attain a competitive equilibrium, where markets clear and profits are zero. We endow a classical firm netw…