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Taxes and Taxation
Reference:

Melnichuk, M. V., Karaev, A. K. Agent-Oriented Macro-Economic Model of the Analysis of Economic (Fiscal) Policy

Abstract: Ongoing global crisis demonstrated the failure of standard neo-classical models in describing and predicting of economic system behavior. In this connection the authors suggest the agent-oriented model of agent behavior in a vertically integrated four-sector macro-economic system (households, fi rms, banks and government) in which interaction and diversity of agents are the main cause of appearance of new emergent properties of a system. This model is used as a computing laboratory analyzing the infl uence of money-and-credit and fi scal policy on behavior of economic agents in a controlled environment.

Keywords:

taxes and taxation, agent-oriented model, institutional changes, economic growth, tax rate, monetary policy, heterogeneous agents, vertically-integrated economy, economic activity, formalized facts.

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