A basic New Keynesian DSGE model with dispersed information: An agent-based approach

被引：11
作者：
Gobbi, Alessandro [1 ]
Grazzini, Jakob [1 ,2 ]
机构：
[1] Univ Cattolica Sacro Cuore, Complex Lab Econ, Milan, Italy
[2] CESifo, Munich, Germany
来源：
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 2019年 / 157卷
关键词：
DSGE models; Agent-based models; Heterogeneity; Learning; Dispersed information; COMPUTATIONAL ECONOMICS; MONETARY-POLICY; EXPECTATIONS; DYNAMICS; COORDINATION;
D O I：
10.1016/j.jebo.2017.12.015
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The aim of this paper is to bridge macro agent-based models with mainstream macroeconomic models by agentifying the baseline New Keynesian DSGE model. The model features multiple, boundedly rational, optimizing agents and is analyzed through numerical simulations. We exploit the flexibility of agent-based modeling to explore the effect of dispersed information on the learning process and on macroeconomic outcomes. We find that with dispersed information monetary and fiscal policy acquire the role of public signals. (C) 2017 Elsevier B.V. All rights reserved.
引用
收藏
页码：101 / 116
页数：16
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