Here.
The Institute of Macroeconomics focuses on issues of the aggregate economy in research and teaching. Here, the employees use approaches which represent an alternative to conventional DSGE-models.
The focus of the research lies on complexity and behavioral macroeconomics, where the actual behavior of economic agents is important for macroeconomic outcomes. The analysis on agents’ interactions is conducted by empirical methods like econometrics, surveys and laboratory experiments. With further insights, employees of the institute construct new models, on the base of complexity economics.
From a methodological point of view, the use of agent-based models is a common approach for this purpose. The content of the conducted analyses always focuses on the exploration of societal and macroeconomic transformation processes like decarbonisation, which is important to fight climate change.
The Institute of Macroeconomics focuses on issues of the aggregate economy in research and teaching. Here, the employees use approaches which represent an alternative to conventional DSGE-models.
The focus of the research lies on complexity and behavioral macroeconomics, where the actual behavior of economic agents is important for macroeconomic outcomes. The analysis on agents’ interactions is conducted by empirical methods like econometrics, surveys and laboratory experiments. With further insights, employees of the institute construct new models, on the base of complexity economics.
From a methodological point of view, the use of agent-based models is a common approach for this purpose. The content of the conducted analyses always focuses on the exploration of societal and macroeconomic transformation processes like decarbonisation, which is important to fight climate change.