Giovanni Dosi, Andrea Roventini and Emanuele Russo

Author Archive | Giovanni Dosi, Andrea Roventini and Emanuele Russo


Endogenous growth and global divergence in a multi-country agent-based model

In this paper we present a multi-country, multi-industry agent-based model investigating the different growth patterns of interdependent economies. Each country features a Schumpeterian engine of endogenous technical change which interacts with Keyneasian/Kaldorian demand generation mechanisms. National growth trajectories are driven by firms’ accumulation of technological knowledge, which in turn also leads to emergent specialization patterns […]

Continue Reading

Harrodian instability in decentralized economies: an agent-based approach

This paper presents a small-scale agent-based extension of the so-called neo-Kaleckian model. The aim is to investigate the emergence of Harrodian instability in decentralized market economies. We introduce a parsimonious microfoundation of investment decisions. Agents have heterogeneous expectations about demand growth and set idiosyncratically their investment expenditures. Interactions occur through demand externalities. We simulate the […]

Continue Reading