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Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These ...

The fifth session focused on a more practical matter: how to evaluate complex policies implemented today, such as the Inflation Reduction Act (IRA) policy (Box 5-1). The session took a closer look at ...

Curtis Dubay, recognized as a leading expert on taxation issues, is a former research fellow in tax and economic policy. In a significant victory for proponents of better tax policy, dynamic scoring ...

Central banks and other policy institutions have a long history of using macroeconomic models to help prepare forecasts and to quantify the economic consequences of various policies. Likewise, private ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J Catalano is a CFP and Registered ...

Edward C. Prescott (1940-2022) was a major figure in macroeconomics, especially in the theories of business cycles and general equilibrium. His fundamental contributions to economics spanned economic ...