Francesco Lamperti, Giovanni Dosi, Mauro Napoletano, Andrea Roventini and Alessandro Sapio

Author Archive | Francesco Lamperti, Giovanni Dosi, Mauro Napoletano, Andrea Roventini and Alessandro Sapio

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Faraway, so Close: Coupled Climate and Economic Dynamics in an Agent-Based Integrated Assessment Model

In this paper we develop the first agent-based integrated assessment model, which offers an alternative to standard, computable general-equilibrium frameworks. The Dystopian Schumpeter meeting Keynes (DSK) model is composed of heterogeneous firms belonging to capital-good, consumption-good and energy sectors. Production and energy generation lead to greenhouse gas emissions, which affect temperature dynamics in a non-linear […]

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Inequality, Redistributive Policies and Multiplier Dynamics in an Agent-Based Model with Credit Rationing

We build an agent-based model populated by households with heterogeneous and time-varying financial conditions in order to study how different inequality shocks affect income dynamics and the effects of different types of fiscal policy responses. We show that inequality shocks generate persistent falls in aggregate income by increasing the fraction of credit-constrained households and by […]

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The Janus-Faced Nature of Debt: Results from a Data-Driven Cointegrated SVAR Approach

In this paper, we investigate the causal effects of public and private debts on U.S. output dynamics. We estimate a battery of Cointegrated Structural Vector Autoregressive models, and we identify structural shocks by employing Independent Component Analysis, a data-driven technique which avoids ad-hoc identification choices. The econometric results suggest that the impact of debt on […]

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The rise and fall of R&D networks

Drawing on a large database of publicly announced R&D alliances, we empirically investigate the evolution of R&D networks and the process of alliance formation in several manufacturing sectors over a 24-year period (1986–2009). Our goal is to empirically evaluate the temporal and sectoral robustness of a large set of network indicators, thus providing a more […]

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Complexity and the Economics of Climate Change: a Survey and a Look Forward

We provide a survey of the micro and macro economics of climate change from a complexity science perspective and we discuss the challenges ahead for this line of research. We identify four areas of the literature where complex system models have already produced valuable insights: (i) coalition formation and climate negotiations, (ii) macroeconomic impacts of […]

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Preventing Environmental Disasters: Market-Based vs. Command-and-Control Policies

The paper compares the effects of market-based and command-and-control climate policies on the direction of technical change and the prevention of environmental disasters. Drawing on the model proposed in Acemoglu et al. (2012), we show that market-based policies (carbon taxes and subsidies towards clean sectors) exhibit bounded window of opportunities: delays in their implementation make […]

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No Man Is an Island: The Impact of Heterogeneity and Local Interactions on Macroeconomic Dynamics

We develop an agent-based model in which heterogeneous firms and households interact in labor and good markets according to centralized or decentralized search and matching protocols. As the model has a deterministic backbone and a full-employment equilibrium, it can be directly compared to Dynamic Stochastic General Equilibrium (DSGE) models. We study the effects of negative […]

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working_paper_2016_8_cover

The Rise and Fall of R&D Networks

Drawing on a large database of publicly announced R&D alliances, we empirically investigate the evolution of R&D networks and the process of alliance formation in several manufacturing sectors over a 24-year period (1986-2009). Our goal is to empirically evaluate the temporal and sectoral robustness of a large set of network indicators, thus providing a more […]

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