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    Estimation of the Price Elasticity of Oil

    Published 23-11-2022
    MAKRO

    We estimate the oil price elasticity for import prices for the sectors present in MAKRO. We make use of a Kalman filter approach developed by Kastrup, Kronborg, and Stephensen (2022).

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    Copy or Deviate? The Market Economy as a Self-Organizing System

    Published 21-11-2022
    DREAM

    An agent-based model for a decentralized market economy with multiple sectors is set up and it is demonstrated that the economy is self-organizing if four empirically relevant conditions apply.