Jamel: Java Agent-based MacroEconomic Laboratory
Jamel (Java Agent-based Macro-Economic Laboratory) is an open source agent-based framework dedicated to the modeling, the simulation and the analysis of complex monetary economies. It is developped by Dr. P. Seppecher (CEPN, University of Paris 13, France) and Dr. I. Salle (Utrecht University, School of Economics, The Netherlands).
The latest version of Jamel (20160509) is available as a downloadable application. It contains the companion baseline simulation of the paper "Is the market really a good teacher? Market selection, collective adaptation and financial instability" (2016).
The axis "Dynamics of capitalism and Post-Keynesian analyses" of the CEPN organises the first multidisciplinary workshop on Complex Systems - Friday, June 2nd, 2017 - Université Paris 13, Campus de Villetaneuse, amphi B (Institut Galilée).
Forthcoming in Industrial and Corporate Change, pre-print version available on <RePEc> :
What drives markups?
Evolutionary pricing in an agent-based stock-flow consistent macroeconomic model
Pascal Seppecher, Isabelle Salle, Marc Lavoie
Tuesday 31st January, 2017
Abstract: This paper studies coordination between firms in a multi-sectoral macroeconomic model with endogenous business cycles. Firms are both in competition and interdependent, and set their prices with a markup over unit costs. Markups are heterogeneous and evolve under market pressure. We observe a systematic coordination within firms in each sector, and between each sector. The resulting pattern of relative prices are consistent with the labor theory of value. Those emerging features are robust to technology shocks.
Keywords: General interdependence, Pricing, Agent-based modeling, Learning.
JEL classification codes: C63, D46, E12, L11, L16.Slides (AFEP 2017)
The task group International Macroeconomics and Post-Keynesian Analyses of the CEPN is happy to announce the third workshop:
Modeling and Analysis of Complex Monetary Economies
THURSDAY, DECEMBER 8, 2016
Is the market really a good teacher?
Market selection, collective adaptation