nep-cmp New Economics Papers
on Computational Economics
Issue of 2009‒08‒02
nine papers chosen by
Stan Miles
Thompson Rivers University

  1. Numerical simulation of nonoptimal dynamic equilibrium models By Zhigang Feng; Jianjun Miao; Adrian Peralta-Alva; Manuel S. Santos
  2. Routines and their breaking – an agent-based analysis of leisure time mobility By Frank Beckenbach; Ramón Briegel; Wilfried Konrad; Gerd Scholl; Stefan Zundel
  3. A 'Live' Version of the HOS Model with Interventions By John Gilbert
  4. Business cycle implications of internal consumption habit for new Keynesian models By Takashi Kano; James M. Nason
  5. Inter-temporal and Inter-Industry Effects of Population Ageing: A General Equilibrium Assessment for Canada By Annabi, Nabil; Fougère, Maxime; Harvey, Simon
  6. Searching NK fitness landscapes: On the trade off between speed and quality in complex problem solving By Sylvie Geisendorf
  7. Innovation as an emerging system property : an agent based model By Antonelli Cristiano; Ferraris Gianluigi
  8. The Simulation of the Educational Output over the Life Course: The GAMEO Model By Pierre Courtioux; Stéphane Gregoir; Dede Houeto
  9. The impact of the increase in food prices on child poverty and the policy response in Mali By Sami Bibi; John Cockburn; Luca Tiberti; Massa Coulibaly

  1. By: Zhigang Feng; Jianjun Miao; Adrian Peralta-Alva; Manuel S. Santos
    Abstract: In this paper we present a recursive method for the computation of dynamic competitive equilibria in models with heterogeneous agents and market frictions. This method is based on a convergent operator over an expanded set of state variables. The fixed point of this operator defines the set of all Markovian equilibria. We study approximation properties of the operator as well as the convergence of the moments of simulated sample paths. We apply our numerical algorithm to two growth models, an overlapping generations economy with money, and an asset pricing model with financial frictions.
    Keywords: Econometric models
    Date: 2009
    URL: http://d.repec.org/n?u=RePEc:fip:fedlwp:2009-018&r=cmp
  2. By: Frank Beckenbach (Department of Economics, University of Kassel); Ramón Briegel (Department of Economics, University of Kassel); Wilfried Konrad (Institute for Ecological Economy Research (IÖW), Heidelberg); Gerd Scholl (Institute for Ecological Economy Research (IÖW), Berlin); Stefan Zundel (Environmental Economics, University of Applied Sciences of Lausitz)
    Abstract: In this paper a multi-method approach for analyzing leisure time mobility is suggested. In our conceptual foundation we synthesize approaches from behaviourally oriented psychology and economics by referring to the framework of Ajzen, a Maslowian theory of needs and a bounded rational way to pick up and transform information according to the basic tenets of Carnegie school (Simon/March) giving special emphasis to the role of routines. This conceptual foundation is the background for the architecture of an agent-based simulation model. This simulation model is used to specify the conditions and effects of routine breaking. Finally the empirical component of our approach is sketched: according to the underlying behavioural orientation we figured out lists of constructs related to the most important behavioural components of the agents. These constructs are brought together in quantitative as well as qualitative questionnaires. The resulting data are statistically evaluated by using descriptive methods. This research is funded by the German Ministry of Education and Research.
    Keywords: Agent-based simulation,Behavioural Economics, Consumer research, Routines, Mobility, Theory of planned behaviour
    Date: 2009–01
    URL: http://d.repec.org/n?u=RePEc:kas:poabec:2009-6&r=cmp
  3. By: John Gilbert (Department of Economics and Finance, Utah State University)
    Abstract: We present a numerical version of the factor proportions (Heckscher-Ohlin-Samuelson) model of production in a small economy, built in Excel that features tax interventions at the input, output, consumption and trade levels. The model features the most common graphical devices used to explain the model properties, including integrating partial equilibrium geometry corresponding to the general equilibrium system. The solution is embedded in the sheet, making the use of the Solver add-in unnecessary. The model can be used to demonstrate the a wide variety of results from the neoclassical theory of commercial policy.
    Keywords: Heckcher-Ohlin-Samuelson model, Factor proportions, Tariffs, Excel
    JEL: A2 D5 F1
    Date: 2009–07–26
    URL: http://d.repec.org/n?u=RePEc:uth:wpaper:200905&r=cmp
  4. By: Takashi Kano; James M. Nason
    Abstract: This paper studies the implications of internal consumption habit for propagation and monetary transmission in New Keynesian dynamic stochastic general equilibrium (NKDSGE) models. We use Bayesian methods to evaluate the role of internal consumption habit in NKDSGE model propagation and monetary transmission. Simulation experiments show that internal consumption habit often improves NKDSGE model fit to output and consumption growth spectra by dampening business cycle periodicity. Nonetheless, habit NKDSGE model fit is vulnerable to nominal rigidity, the choice of monetary policy rule, the frequencies used for evaluation, and spectra identified by permanent productivity shocks.
    Date: 2009
    URL: http://d.repec.org/n?u=RePEc:fip:fedawp:2009-16&r=cmp
  5. By: Annabi, Nabil; Fougère, Maxime; Harvey, Simon
    Abstract: The objective of this paper is to examine the inter-industry and labour market occupational effects of population ageing in Canada, using a computable general equilibrium overlapping-generations model. The model is calibrated along a balanced-growth path, taking into account labour-augmenting (Harrod-neutral) technical progress. It also accounts for heterogeneity at the household level, using 25 occupation-specific earnings profiles. In addition to the impact of slower labour force growth, the model captures the shift in sectoral composition of final demand. The latter is due to different consumption preferences of older individuals. Moreover, a wage curve is introduced to explore the impact of population ageing on the unemployment rate. The simulation results indicate that the growth in real GDP per capita could decline by nearly one percentage point between 2006 and 2050. Besides, the production of services, in percent of total GDP, is projected to increase in the long-run, although the analysis shows more modest changes in production shares than in previous studies. The results also suggest that the equilibrium unemployment rate is likely to decline by more than 2 percentage points in the long run. The impact also varies quite significantly at the occupational level.
    Keywords: Population ageing, growth, general equilibrium model, overlapping generations, Canada
    JEL: D58 J11 O40 O51
    Date: 2009–07–22
    URL: http://d.repec.org/n?u=RePEc:ubc:clssrn:clsrn_admin-2009-44&r=cmp
  6. By: Sylvie Geisendorf (Department of Economics, University of Kassel)
    Abstract: The complexity of problems is often too high for people or organizations, having to solve them, to do so in an optimal way. In order to cope with such problems, either the search space has to be decomposed, or it has to be searched by random trial and error processes. Kauffman´s NK model offers a way to depict such problem space decompositions and the search for solutions in them. However, papers on the effect of different decompositions on solution quality come to differing conclusions as to the advantages or disadvantages of incorrect modularization assumptions. The current paper thus examines the results of more empirically based search strategies. Some trade offs become visible, but the sometimes observed initial advantage of a too deep modularization could not be confirmed.
    Keywords: NK-model, search processes, complexity reduction, modularity, agent-based modelling
    Date: 2009–05
    URL: http://d.repec.org/n?u=RePEc:kas:poabec:2009-7&r=cmp
  7. By: Antonelli Cristiano (University of Turin); Ferraris Gianluigi
    Abstract: The paper elaborates the notion of innovation as an emerging property of complex system dynamics and presents an agent-based model of an economy where systemic knowledge interactions among heterogeneous agents are crucial for the generation of new technological knowledge and the introduction of innovations. In this approach external knowledge is an indispensable input,together with internal learning and research activities, into the generation of new knowledge. The introduction of innovations is analyzed as the result of systemic interactions among myopic agents that are credited with an extended procedural rationality that includes forms of creative reaction. The creative reaction of agents may lead to the introduction of productivity enhancing innovations. This takes place only when the structural and institutional characteristics of the system are such that agents, reacting to out-ofequilibrium conditions, can actually take advantage of external knowledge available within the innovation system into which they are embedded. Building upon agentbased simulation techniques the paper explores the effects that alternative configurations of the intellectual property right regimes play in assessing the chances to generate new technological knowledge and shows how the different architectural configurations of the structure into which knowledge interactions take place affect the rates of introduction of technological innovations. The results of the simulation model suggest that the dissemination of knowledge favors the emergence of creative reactions and hence faster rates of introduction of technological innovations.
    Date: 2009–07
    URL: http://d.repec.org/n?u=RePEc:uto:labeco:200911&r=cmp
  8. By: Pierre Courtioux (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I); Stéphane Gregoir (CEREMADE - CEntre de REcherches en MAthématiques de la DEcision - CNRS : UMR7534 - Université Paris Dauphine - Paris IX); Dede Houeto (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)
    Abstract: The paper presents the GAMEO model. It is a dynamic microsimulation model which aims at analyse educational output. It develops a generational approach and put the stress on the ditribution of educational output differentiated by type an level of degree.
    Keywords: microsimulation; education
    Date: 2009–06–08
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-00391393_v1&r=cmp
  9. By: Sami Bibi; John Cockburn; Luca Tiberti; Massa Coulibaly
    Abstract: Since 2006, Mali has experienced the full effects of the global food crisis, with price increases of up to 67%. This study presents simulations of the impacts of this crisis and a number of policy responses with respect to the welfare of children. The impacts are analyzed in terms of monetary (food) poverty, nutrition, education, child labor and access to health services of children. According to simulations, food poverty among children would have increased from 41% to 51%, with a corresponding rise in caloric insufficiency from 32% to 40%, while the impacts on school participation, work and access to health services would have been relatively weak.
    Keywords: child education; child health; child labour; child poverty; economic crisis; food crises; nutrition;
    JEL: E39
    Date: 2009
    URL: http://d.repec.org/n?u=RePEc:ucf:inwopa:inwopa09/66&r=cmp

This nep-cmp issue is ©2009 by Stan Miles. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at http://nep.repec.org. For comments please write to the director of NEP, Marco Novarese at <director@nep.repec.org>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.