SubsidieMeestersA software tool for the Bayesian estimation of Heterogeneous Agent macroeconomic policy models
The BASEforHANK project aims to enhance a pilot software for macroeconomic models, making it user-friendly for policymakers to analyze the impact of their policies on inequality and growth.
Projectdetails
Introduction
My ERC-CoG project has advanced the methodological frontier in solving and estimating macroeconomic equilibrium models, enabling analysis of the interplay between business cycles and inequality.
Importance for Policymakers
To transform this innovation into a benefit for society, policymakers must be able to work with models with ease. This will allow them to comprehend how the policies they propose impact both the macroeconomy and income/wealth distribution.
Need for Software Tools
For this purpose, policymakers require a software tool that allows for swift development and analysis of models. The ERC-CoG-funded research has produced a pilot software that can theoretically achieve this, alongside fundamental methodological research.
Challenges with Current Software
However, it lacks the versatility and user-friendliness required by policymakers who must develop answers to policy questions under time pressure.
Aims of the BASEforHANK Project
The aims of the BASEforHANK project include the further development of the pilot software into a more user-friendly and versatile tool. If successful, this development will enable policymakers worldwide to understand the impacts of their policies better, resulting in more socially cohesive and stable growth.
Development Model
The development follows the model of the Dynare software package, which made it possible to use macroeconomic equilibrium models with representative agents that are now pervasive in policy institutions.
Financiële details & Tijdlijn
Financiële details
| Subsidiebedrag | € 150.000 |
| Totale projectbegroting | € 150.000 |
Tijdlijn
| Startdatum | 1-9-2024 |
| Einddatum | 28-2-2026 |
| Subsidiejaar | 2024 |
Partners & Locaties
Projectpartners
- RHEINISCHE FRIEDRICH-WILHELMS-UNIVERSITAT BONNpenvoerder
Land(en)
Vergelijkbare projecten binnen European Research Council
| Project | Regeling | Bedrag | Jaar | Actie |
|---|---|---|---|---|
MANUNKIND: Determinants and Dynamics of Collaborative ExploitationThis project aims to develop a game theoretic framework to analyze the psychological and strategic dynamics of collaborative exploitation, informing policies to combat modern slavery. | ERC STG | € 1.497.749 | 2022 | Details |
Elucidating the phenotypic convergence of proliferation reduction under growth-induced pressureThe UnderPressure project aims to investigate how mechanical constraints from 3D crowding affect cell proliferation and signaling in various organisms, with potential applications in reducing cancer chemoresistance. | ERC STG | € 1.498.280 | 2022 | Details |
Uncovering the mechanisms of action of an antiviral bacteriumThis project aims to uncover the mechanisms behind Wolbachia's antiviral protection in insects and develop tools for studying symbiont gene function. | ERC STG | € 1.500.000 | 2023 | Details |
The Ethics of Loneliness and SociabilityThis project aims to develop a normative theory of loneliness by analyzing ethical responsibilities of individuals and societies to prevent and alleviate loneliness, establishing a new philosophical sub-field. | ERC STG | € 1.025.860 | 2023 | Details |
MANUNKIND: Determinants and Dynamics of Collaborative Exploitation
This project aims to develop a game theoretic framework to analyze the psychological and strategic dynamics of collaborative exploitation, informing policies to combat modern slavery.
Elucidating the phenotypic convergence of proliferation reduction under growth-induced pressure
The UnderPressure project aims to investigate how mechanical constraints from 3D crowding affect cell proliferation and signaling in various organisms, with potential applications in reducing cancer chemoresistance.
Uncovering the mechanisms of action of an antiviral bacterium
This project aims to uncover the mechanisms behind Wolbachia's antiviral protection in insects and develop tools for studying symbiont gene function.
The Ethics of Loneliness and Sociability
This project aims to develop a normative theory of loneliness by analyzing ethical responsibilities of individuals and societies to prevent and alleviate loneliness, establishing a new philosophical sub-field.
Vergelijkbare projecten uit andere regelingen
| Project | Regeling | Bedrag | Jaar | Actie |
|---|---|---|---|---|
A coherent approach to analysing heterogeneity in network dataThis project aims to develop innovative econometric methods for analyzing unobserved heterogeneity in social interactions, addressing identification, estimation, and computation challenges. | ERC COG | € 966.000 | 2023 | Details |
Econometrics for Macroeconomic Policy EvaluationDevelop a new framework, "policymetrics," to evaluate macroeconomic policy decisions by detecting optimization failures and analyzing their causes without relying on specific economic models. | ERC STG | € 614.900 | 2022 | Details |
The Old, the Young, and the Uncertain Future: Using High-Dimensional Stochastic Overlapping-Generations Models to Evaluate Fiscal Policies that Shift Risk and Resources Across GenerationsSOLG for Policy develops advanced stochastic overlapping-generations models to assess the welfare implications of fiscal policies on intergenerational risk and resource transfers. | ERC STG | € 1.483.639 | 2022 | Details |
Dynamic Cross Sections and Heterogeneity in MacroeconomicsThe project aims to develop new methods for analyzing the impact of household and firm heterogeneity on macroeconomic dynamics and responses to shocks, enhancing understanding of economic behavior and strategic interactions. | ERC ADG | € 1.447.893 | 2022 | Details |
A coherent approach to analysing heterogeneity in network data
This project aims to develop innovative econometric methods for analyzing unobserved heterogeneity in social interactions, addressing identification, estimation, and computation challenges.
Econometrics for Macroeconomic Policy Evaluation
Develop a new framework, "policymetrics," to evaluate macroeconomic policy decisions by detecting optimization failures and analyzing their causes without relying on specific economic models.
The Old, the Young, and the Uncertain Future: Using High-Dimensional Stochastic Overlapping-Generations Models to Evaluate Fiscal Policies that Shift Risk and Resources Across Generations
SOLG for Policy develops advanced stochastic overlapping-generations models to assess the welfare implications of fiscal policies on intergenerational risk and resource transfers.
Dynamic Cross Sections and Heterogeneity in Macroeconomics
The project aims to develop new methods for analyzing the impact of household and firm heterogeneity on macroeconomic dynamics and responses to shocks, enhancing understanding of economic behavior and strategic interactions.