The sustainability transition and the digital transformation: two challenges for agent-based macroeconomic models

2021 ◽  
Author(s):  
Marcello Nieddu ◽  
Filippo Bertani ◽  
Linda Ponta
Keyword(s):  
Digital Transformation ◽  
Agent Based ◽  
Macroeconomic Models ◽  
Sustainability Transition

scholarly journals Romania’s SMEs on the Way to EU’s Twin Transition to Digitalization and Sustainability

2021 ◽  
Vol 16 (2) ◽  
pp. 282-295
Author(s):  
Claudia Ogrean ◽  
Mihaela Herciu
Keyword(s):  
Value Added ◽  
Transition Process ◽  
Digital Transformation ◽  
Recovery Plan ◽  
Attitudes And Behaviors ◽  
Sustainability Transition ◽  
Speed Up ◽  
And Behaviors ◽  
Start Ups ◽  
The Eu

Abstract European Commission’s six priorities for 2019-2024 are all in line with and leverage each other to support Europe’s twin transition to digitalization and sustainability; aiming to address the challenges posed by the COVID-19 pandemic, The Recovery Plan for Europe adds resilience as key dimension of EU’s progress, while reinforcing its commitment to the green and digital transformation. Counting for more than 99% of the enterprises, employing about two of three people, and generating more than a half of the value added - with similar weights as concerns Romania - EU’s SMEs are the engine of Europe's economy, therefore essential contributors to these transformative processes - as emphasized in the SME Strategy for a sustainable and digital Europe. Against this background, the main questions the paper is addressing are: how ready the Romania’s SMEs are for the twin (digital and sustainability) transition the EU has embarked on? What are RO’s SMEs approaches to and performances on digitalization and sustainability against the EU27 SMEs’ average benchmark? How can the RO’s SMEs twin transition process may be speeded up? The analysis was mainly built on data provided by the Flash Eurobarometer 486: SMEs, start-ups, scale-ups and entrepreneurship (released in September 2020). The review of Eurobarometer 486 data on the two topics will then be examined and discussed, in order for the paper to eventually: identify the gaps between RO SMEs and EU27 SMEs in terms of perceptions, attitudes and behaviors related to the twin transition; explore the challenges (in terms of both opportunities and threats) RO’s SMEs face as regards the twin transition; provide some guidelines able to speed up the twin transition of RO’s SMEs.

scholarly journals Macroeconomic Models: Assessment of the 2008 Financial Crisis in the Framework of Dynamic Stockastic General Equilibrium and Agent Based Modeling

2018 ◽  
Author(s):  
Hakan Acet ◽  
Zeynep Karaçor ◽  
Özlem Alkan
Keyword(s):  
General Equilibrium ◽  
Rational Expectations ◽  
Dynamic Stochastic General Equilibrium ◽  
Agent Based Modeling ◽  
Equilibrium Analysis ◽  
Agent Based ◽  
Macroeconomic Models ◽  
Scarce Resources ◽  
Dynamic Stochastic ◽  
The 2008 Financial Crisis

As a result of economic crisis occurred in the mid-1970s, the macroeconomic models that were exist at that time had been criticized about their validity, and then the dynamic Stochastic general equilibrium analysis had been developed accordingly. Dynamic Stochastic general equilibrium models, which combine microeconomic foundations by assuming that households or firms are behaving optimally with rational expectations against scarce resources, have been also criticized for their adequacy with the onset of the 2008 crisis. After this crisis, agent-based modeling attracted attention and started to be adopted more in the literature. In this study, 2008 crisis will be evaluated by comparing both models.

scholarly journals Architecture of the agent-based model for the region’s industrial complex digital transformation

2020 ◽  
Vol 21 (3) ◽  
pp. 158-174
Author(s):  
G. B. Korovin
Keyword(s):  
Industrial Development ◽  
Industrial Revolution ◽  
Regional Economics ◽  
Model Development ◽  
Digital Transformation ◽  
Practical Implementation ◽  
Industrial Complex ◽  
Agent Based Model ◽  
Initial State ◽  
Agent Based

The study of the transformation of the industrial complex and industrial products markets, due to its complexity, involves the use of tools that can adequately simulate elaborate systems of interconnections. The paper aims at developing an agent-based model of digital transformation of the regional industrial complex. The research methodology relies on regional economics, game and contract theories, the network approach, as well as the concepts of new industrialisation and the fourth industrial revolution. The author uses simulation modelling to study the individual behaviour of agents. As one of its outcomes, the article provides a methodological rationale for modelling industrial development processes by simulating the behaviour of interacting agents. The structural elements of the proposed model include an interaction environment, four classes of agents with individual parameters, strategies and rules of behaviour, a complex of external stimulating factors and a set of indicators of a phased digital transformation of an industrial complex. The model development algorithm consists of three parts: setting the initial state; determining the specific number of model runs corresponding to the time horizon of calculations; making final calculations and visually presenting simulation outcomes. The author proposes one of the possible methods to formalise behaviour rules of heterogeneous agents that includes the choice of the digitalisation strategy and operational decision-making. The results of the study can offer support for the practical implementation of the simulation model within a specific computer environment and lay the foundations for the control system of a region’s industry digitalisation.

scholarly journals Capability accumulation and product innovation: an agent-based perspective

2021 ◽  
Author(s):  
Claudius Gräbner ◽  
Anna Hornykewycz
Keyword(s):  
Product Innovation ◽  
Price Setting ◽  
Product Spaces ◽  
Product Complexity ◽  
Agent Based ◽  
Macroeconomic Models ◽  
Final Consumption ◽  
Good Sector ◽  
Innovation Dynamics ◽  
Innovation Processes

AbstractThis paper studiesthe relevance of productheterogeneity and relatedness for the accumulation ofcapabilities in firms, as well as their implications for innovation dynamics. The existing literature has produced extensive evidence on the relevance of capability accumulation for innovation processes. Yet, an assessment of prior attempts to model these processes indicates that when it comes to the final consumption good sector, the evolutionary macroeconomic literature has focused on process rather than product innovation. To facilitate the consideration of empirical and microeconomic insights on product innovation in these models, this paper introduces a simple agent-based model, which may later serve as an innovation module in macroeconomic models. In the model, firms accumulate capabilities to produce final consumption goods that are heterogeneous in terms of their complexity and differ in their relatedness to each other. The model is used to study theoretical implications of different topological structures underlying product relatedness by conducting simulations with different ‘product spaces’. The analysis suggests that the topological structure of the product space, the assumed relationship between product complexity and centrality, as well as the relevance of product complexity in price setting dynamics have significant but nontrivial implications and deserve further attention in evolutionary macroeconomics.

scholarly journals Agent-Based Models of the Labor Market

2018 ◽  
Author(s):  
Michael Neugart ◽  
Matteo Richiardi
Keyword(s):  
Labor Market ◽  
Labor Markets ◽  
Major Part ◽  
Agent Based Models ◽  
Market Models ◽  
Agent Based ◽  
Macroeconomic Models ◽  
Market Policy ◽  
Labor Market Policies ◽  
Selection Of

The chapter reviews the literature concerning agent-based labor market models by tracing its roots to the microsimulation literature and surveying a selection of con- tributions made since the work by Bergmann and Eliasson et al. Agent-based models have been applied to explain stylized facts of labor markets as well as labor market policy evaluations. They also constitute a major part of agent-based macroeconomic models. Besides reviewing the various results achieved, the chapter discusses modeling choices with respect to agents' behavior and the structure of interaction. The overall assessment is that agent-based labor market models have given us valuable insights into the functioning of labor markets and the consequences of labor market policies, and that they will increasingly become an essential tool of analysis, in particular, when the construction of large macro-models is involved.

scholarly journals Building Better Ecological Machines: Complexity Theory and Alternative Economic Models

2016 ◽  
Vol 2 ◽  
pp. 266
Author(s):  
Jess Bier ◽  
Willem Schinkel
Keyword(s):  
Economic Crisis ◽  
Complexity Theory ◽  
Economic Models ◽  
Financial Policy ◽  
Agent Based Models ◽  
Agent Based ◽  
Macroeconomic Models ◽  
Fractal Modeling ◽  
Current Economic Crisis ◽  
Conventional Models

Computer models of the economy are regularly used to predict economic phenomena and set financial policy. However, the conventional macroeconomic models are currently being reimagined after they failed to foresee the current economic crisis, the outlines of which began to be understood only in 2007-2008. In this article we analyze the most prominent of this reimagining: Agent-Based models (ABMs). ABMs are an influential alternative to standard economic models, and they are one focus of complexity theory, a discipline that is a more open successor to the conventional chaos and fractal modeling of the 1990s. The modelers who create ABMs claim that their models depict markets as ecologies, and that they are more responsive than conventional models that depict markets as machines. We challenge this presentation, arguing instead that recent modeling efforts amount to the creation of models as ecological machines. Our paper aims to contribute to an understanding of the organizing metaphors of macroeconomic models, which we argue is relevant conceptually and politically, e.g., when models are used for regulatory purposes.

Total etch dentin bonding systems: scanning electron microscopy of the resin-dentin hybrid layer

1992 ◽  
Vol 50 (2) ◽  
pp. 1092-1093
Author(s):  
Jorge Perdigao
Keyword(s):  
Composite Resin ◽  
Mechanical Interlocking ◽  
Hybrid Layer ◽  
Agent Based ◽  
Dentin Bonding ◽  
Acid Agent ◽  
Bond Strengths ◽  
Main Component ◽  
Bonding Systems ◽  
New Generation

In 1955, Buonocore introduced the etching of enamel with phosphoric acid. Bonding to enamel was created by mechanical interlocking of resin tags with enamel prisms. Enamel is an inert tissue whose main component is hydroxyapatite (98% by weight). Conversely, dentin is a wet living tissue crossed by tubules containing cellular extensions of the dental pulp. Dentin consists of 18% of organic material, primarily collagen. Several generations of dentin bonding systems (DBS) have been studied in the last 20 years. The dentin bond strengths associated with these DBS have been constantly lower than the enamel bond strengths. Recently, a new generation of DBS has been described. They are applied in three steps: an acid agent on enamel and dentin (total etch technique), two mixed primers and a bonding agent based on a methacrylate resin. They are supposed to bond composite resin to wet dentin through dentin organic component, forming a peculiar blended structure that is part tooth and part resin: the hybrid layer.

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