Macroeconomic models play a crucial role in decision making and federal budget planning but may not fully account for the economic disruptions caused by extreme climate-related impacts (e.g., extreme ...

The macro economy, like the global climate, is a complex system (highly nonlinear and buffeted by random shocks) that defies attempts to model it and predict its future path. The challenge of ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

Papers presented at the conference on “Macroeconomic Models for Monetary Policy” held March 6, 2009, at the Federal Reserve Bank of San Francisco addressed such issues as how to model wage and price ...

New economic modeling shows that there is a near certainty that the economy will enter a recession within the next year. The news comes as the Federal Reserve continues its most aggressive tightening ...

Marx never made claims about economic theories as science. He pointed out the mechanisms of capitalism and that some of the negative effects of capitalism were inevitable due to the way capitalism ...

Hierarchical decision making is a multidimensional process involving management of multiple objectives (with associated metrics and tradeoffs in terms of costs, benefits, and risks), which span ...

This session aimed to gain insight into the macroeconomic models and inputs used at the decision-making level. In his talk, Robert Arnold, Congressional Budget Office (CBO), echoed Stock by stressing ...

It is a sort of weird article because they just say “consumption tax, but designed to be progressive,” which is… pretty hand-wavey I guess? @Locke suggested a land value tax instead. (Georgism is, of ...