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UID:1-322@lptms.universite-paris-saclay.fr
DTSTART:20150210T110000Z
DTEND:20150210T120000Z
DTSTAMP:20150126T091930Z
URL:https://www.lptms.universite-paris-saclay.fr/seminars/seminaire-du-lpt
 ms-stanislao-gualdi/
SUMMARY:Séminaire du LPTMS: Stanislao Gualdi - LPTMS\, salle 201\, 2ème 
 étage\, Bât 100\, Campus d'Orsay - 10 Fév 15 11:00
DESCRIPTION:Tipping points and monetary policy in a stylized macroeconomic 
 agent-based model\nStanislao Gualdi\, Centrale Supélec\nTraditional appro
 aches in economics rely on the assumption that economic agents are identic
 al\, non-interacting and rational. Within this framework\, economic instab
 ilities would require large exogenous shocks\, when in fact small local sh
 ocks can trigger large systemic effects when heterogeneities and interacti
 ons are taken into account. The need to include these effects motivate the
  development of agent-based models (ABMs)\, which are extremely versatile 
 and allow to take into account more realistic behavioural rules. In this t
 alk we introduce a simple ABM\, explore the possible types of phenomena th
 at it can reproduce and propose a methodology that characterizes a model t
 hrough its phase diagram. We then generalize the model with the aim of inv
 estigating the role and efficacy of the monetary policy of a central bank.
  We show that the existence of different equilibrium states of the economy
  can cause the monetary policy itself to trigger instabilities and be coun
 ter-productive.\n
LOCATION:LPTMS\, salle 201\, 2ème étage\, Bât 100\, Campus d'Orsay\, 15 
 Rue Georges Clemenceau\, Orsay\, 91405\, France
GEO:48.698185;2.181768
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  Orsay\, 91405\, France;X-APPLE-RADIUS=100;X-TITLE=LPTMS\, salle 201\, 2è
 me étage\, Bât 100\, Campus d'Orsay:geo:48.698185,2.181768
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