The Pit Market Experiment
There are plenty of online resources on the pit market experiment (see e.g. here and here). I used several of these to build my own, and the purpose of this ...
Latest Posts
2023
2022
Ordinary Least Squares Regression
This post introduces a simple interactive application to run and visualize Ordinary Least Squares (OLS) regressions. The application accepts as input a csv f...
2021
Kaldor’s model of the trade cycle: dynamics and a numerical example
In 1940, Nicholas Kaldor published in the Economic Journal a famous article presenting a new model of the trade cycle.1 Its main mechanism relied on the disc...
2020
Simulation and decomposition of Ragnar Frisch’s rocking horse model (1933)
This post is based on a working paper accessible here.
ISLM and the Aggregate Demand curve
In a previous post we constructed the IS-LM model from a demand for goods, a demand for money, and two equilibrium conditions. By adding a very simple liquid...
The ISLM Model
We present a simple IS LM model with two markets: the goods market and the “money” market. The goods market is describe in a previous post We linearise the m...
The Keynesian Cross and the IS curve
In this post, we build the IS curve from the equilibrium positions on the goods market. The curve is later used in several models (see this post and that one...