Category: Etic 2005 giorgio fagiolo

The international magazine "Times Higher Education" ranked the school among the best universities in the World University Rankings Economics and Management Law Political Sciences. Admission International Mobility. First level Master's diploma. Second level Master's diploma. The Biorobotics Institute. Institute of Law, Politics and Development. Institute of Economics.

Institute of Management. Institute of Communication, Information and Perception Technologies. Admission Prospective students. International Institutions and Companies.

Library Make a Gift. Scuola superiore sant'anna.

etic 2005 giorgio fagiolo

Full Professor. Giorgio Fagiolo. Institute of Economics giorgio. Download curriculum vitae. Fagiolo; M. Mastrandrea; T. Squartini; G. Fagiolo; D. Duenas; G. Chinazzi; G.

Innovation, finance, and economic growth: an agent-based approach

Fagiolo; J.Unlike the original model, we assume that both exploration and imitation require resources provided by banks, which pool agent savings and finance new projects via loans. We find that banking activity has a positive impact on growth. However, excessive financialization can hamper growth. Indeed, we find a significant and robust inverted U-shaped relation between financial depth and growth.

Overall, our results stress the fundamental and still poorly understood role played by innovation in the finance—growth nexus. This is a preview of subscription content, log in to check access. Rent this article via DeepDyve. For an introduction to agent-based computational economics, see Tesfatsion and Judd and LeBaron and Tesfatsion We do not attach any meaning to the x and y dimensions. A 2-dimensional lattice is chosen only for descriptive reasons. Nonetheless, in Sect.

This assumption is made for consistency with the original FDM. That is, they could apply a sort of safety buffer. Notice also that such dependence of exploration upon savings, combined with the way in which banks provide loans see Sect. One could relax such an assumption allowing firms to move only in the directions where the productivity of the new technologies should be higher than the one they currently master. We will consider this setting in future versions of the model.

One could imagine that bankrupt explorers should be more penalized, e. However, the cumulation of knowledge and the dynamic increasing returns which are generated while the explorer was sailing let the bankrupt agent fall behind with respect to the technological frontier. This constitutes already a fairly large penalization. The probability of such an outcome is negligible, as the productivity of a newly discovered island is linked to the last production carried out by the explorer.

etic 2005 giorgio fagiolo

For this reason, we make this assumption for keeping the setting as simple as possible. However, in future versions of the model we will consider a more sophisticated setting in which an explorer can continue to sail when she arrives on an already known island with lower productivity, or she can come back to her initial island.

Also in this case we assume that imitators do not produce during sailing for consistency with the FDM. One can also assume that adoption should be further favored by reducing the time and hence the cost, it takes to be performed. We assume that the per-period share of production c consumed for imitation equals that for exploration. Indeed, given our simple setting, if banks were able to distinguish between explorers and imitators, their information would be perfect.

Nonetheless, we investigate the role of information asymmetry in Sect. Since a bankrupt agent may hold bank equity shares, we assume for simplicity that in such a case the shares are redistributed to the other shareholders proportionally to their positions. Investigating the effects of bank ownership structure goes beyond the objectives of the present analysis.

If liquidity is not enough to satisfy depositors, then it is distributed proportionally to net positions.Agent-based Computational Economics. Industrial Dynamics. Statistical Properties of Micro and Macro-Dynamics. In the last years, an exploding body of literature has put forth the idea that all types of interactions taking place among economic agents can be fruitfully studied in the framework of network theory. A network is a collection of nodes and links.

etic 2005 giorgio fagiolo

In this metaphor, nodes play the role of economic agents, whereas a link between any two nodes represents the existence and possibly the direction and intensity of the interaction going on between these two nodes. Interactions here refer to both material and immaterial exchanges: trade, knowledge spillovers, externalities of any kind, imitation, etc.

Standard economics has largely neglected the study of direct interactions. Theoretical models have either assumed that no direct interactions take place think e.

Animal Spirits, Lumpy Investment, and Endogenous Business Cycles

Similarly, empirical analyses did not address the study of topological properties of networks existing among firms, consumers, or countries. In recent years, on the contrary, theoretical and empirical studies have shown that the properties of interaction microeconomic networks are crucial to understand macro-economic dynamics. My research on networks focuses on both theoretical and empirical questions:.

Jan Hammer - Crockett's Theme vs. Madis - Nightwalk (Madis Live Cover)

I am interested in game-theoretic models where agents are placed on networks, play games with their neighbors, and are able to endogenously modify the links they maintain through time in response of the payoffs they get. In these models, agents are not only able to decide the strategy to play in the game but also to choose whom to play with.

The main goal is to understand how strategies and networks co-evolve and affect the final equilibrium outcome of the game. More recently, I became interested in the empirical analysis of real-world networks.

From a methodological point of view, my research here focuses on developing tools for the analysis of weighted, directed networks, i. Applications include the international trade network and the network of financial flows across world countries. Giorgio Fagiolo. Networks: Models and Empirics In the last years, an exploding body of literature has put forth the idea that all types of interactions taking place among economic agents can be fruitfully studied in the framework of network theory.We shall go back to this point below.

Dawid for an exhaustive review of ABMs of innovation and technological change. Dosi et al. However, within this stream of literature, only a few scholars have attempted to look at the joint effect of supply changes and demand composition on growth and structural change from a sectoral an Unlike the existing literature, we account for the whole set of innovation strategies for a firm: process, product and orga Documents: Advanced Search Include Citations.

Evolutionary theorizing on economic growth. Add To MetaCart. Nelson - IN B. H Citation Context Schumpeter meeting Keynes: A policy-friendly model of endogenous growth and business cycles. We employ the model to investigate the properties of macroeconomic dynamics and the impact of public polices on supply, demand Abstract - Cited by 31 4 self - Add to MetaCart a b s t r a c t This paper studies an agent-based model that bridges Keynesian theories of demandgeneration and Schumpeterian theories of technology-fueled economic growth.

The paper presents a model of endogenous growth in which firms are modeled as boundedly-rational, locally interacting, agents.

Firms produce a homogeneous good employing technologies located in an open-ended technological space and are allowed to either imitate existing similar practices or to local Abstract - Cited by 29 12 self - Add to MetaCart The paper presents a model of endogenous growth in which firms are modeled as boundedly-rational, locally interacting, agents.

Firms produce a homogeneous good employing technologies located in an open-ended technological space and are allowed to either imitate existing similar practices or to locally explore the technological space to find new, more productive, techniques. We first identify sufficient condi-tions for the emergence of empirically plausible GDP time-series characterized by self-sustained growth.

Then, we study the trade-off between individual rationality and collective outcomes by providing an example in which more rational agents sys-tematically perform worse than less rational ones. We propose to develop in this paper an alternative approach to the New Growth Theory to analyse growth rate divergence among integrated economies.

The model presented here considers economic growth as a disequilibrium process. It introduces in a cumulative cau-sation framework, micro-founded process Abstract - Cited by 13 5 self - Add to MetaCart We propose to develop in this paper an alternative approach to the New Growth Theory to analyse growth rate divergence among integrated economies.All material on this site has been provided by the respective publishers and authors.

You can help correct errors and omissions. For general information on how to correct material on RePEc, see these instructions. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. There, details are also given on how to add or correct references and citations.

To link different versions of the same work, where versions have a different title, use this form. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. Please note that most corrections can take a couple of weeks to filter through the various RePEc services.

Giorgio Fagiolo

Economic literature: papersarticlessoftwarechaptersbooks. FRED data. Research output as. Dosi, G. Martha G. Giorgio Fagiolo, Redaktsiya zhurnala "Voprosy Economiki", vol.

Vriend, Fagiolo, White, Roventini, White, "undated". Valente M. Gabriele, Stadler, Zarnowitz, Victor, Whited, Canova, Fabio, Discussion Papers. Julia K.

Thomas, Thomas, "undated". King, Robert G. Woodford ed. Robert G. Rebelo, Alan S. Maccini, Bartelsman, Eric J. Steven M. Petersen, Kirman, Alan, Austan Goolsbee, Lane, David A, Tesfatsion, Leigh, Bruce C.

Stiglitz, Fabio Canova, Caballero, Ricardo J. Cabalero, R. Ricardo J. Caballero, Victor Zarnowitz, Alan P.Louis Paskalis, SVP, Customer Engagement and Investment, Bank of America Interviewed by: Kevin Mannion, Chief Strategy Officer, Advertiser PerceptionsDamian Garbaccio, EVP, Nielsen Marketing CloudIn this information-packed, highly-caffeinated session, eMarketer Co-founder and Chief Innovation Officer Geoff Ramsey will paint a vivid picture of where marketing is headed in 2018, covering the latest trends in ad:tech, data management, programmatic media buying, marketing attribution and native advertising.

Armed with a tsunami of facts and figures, he will also highlight the landscape and implications for critical emerging technologies such as artificial intelligence, voice recognition and AR and VR. Geoff Ramsey, Co-founder and Chief Innovation Officer, eMarketerWithin advertising and marketing, industry trade associations have long represented specific groups of expertise and helped craft a more innovative and efficient future for their memberships. In this discussion, the top trade association executives from the ANA, 4As and IAB come together to review the key trends and critical initiatives for the year ahead.

Seth Dallaire returns to the Industry Preview stage to discuss the company's latest work with brands. Seth Dallaire, VP, Global Advertising Sales and Marketing, Amazon Media Group Interviewed by: Kelly Liyakasa, Senior Editor, AdExchangerThe "buzz" around blockchain and cryptocurrencies is reaching new heights - to say the least - and 2018 appears to be another stepping stone in its use across currencies and elsewhere.

Sandra Ro discusses its importance and what blockchain will mean for consumers and businesses in the year ahead. Mark Zagorski, CEO, TelariaNetworks have embraced OTT in earnest. ESPN, CBS and Turner are among those pursuing VOD and SVOD on connected TV devices.

etic 2005 giorgio fagiolo

This discussion will range across the production, distribution and monetization of content delivered on cable TV as well as Roku, Apple TV and Chromecast devices. CEO Michael Roth will talk about the bets Interpublic Group is making as it helps global clients connect with their current and future customers.

In this session, Oracle Data Cloud SVP Eric Roza and Moat cofounder Jonah Goodhart will talk about the platform vision and how they're making it a reality. Jonah Goodhart, SVP, Oracle Data Cloud Eric Roza, General Manager and SVP, Oracle Data Cloud Interviewed by: Ryan Joe, Managing Editor, AdExchangerInvestment drives innovation as industry participants know well. With that in mind, Dan Salmon provides his Wall Street perspective on some key trends to consider across the marketing technology landscape in the year to come.

Dan Salmon, Equity Research Analyst, BMO Capital MarketsThis featured fireside chat will be announced shortly and include a discussion with a key industry leader in the year ahead.

Guided by his unique journey from corner store to corner office, SAP CEO Bill McDermott will present his analysis on the state of marketing as the enabler of the consumer-driven growth revolution. He will also share secrets from his boardroom conversations with Fortune 1000 CEOs around the world.

Bill McDermott, CEO, SAPJohn Ebbert, Publisher, AdExchangerGoogle VP Brad Bender will discuss the company's evolving advertiser business. How does NBCU juggle traditional "Upfront" sales, advanced TV, digital programmatic and cooperative sales with key partners like Apple and Vox.

Jon Suarez-Davis, Chief Strategy Officer, Salesforce Marketing Cloud, SalesforceIBM continues to augment and develop its technology strategy in service to marketers. This fireside chat looks at "what's next" through the lens of the company's Chief Digital Officer, Bob Lord.


thoughts on “Etic 2005 giorgio fagiolo

Leave a Reply

Your email address will not be published. Required fields are marked *