Karsten Kohler
@KarstenKohler2
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Associate Professor in Economics @ UoLeeds. Capital flows, exchange rates, financial cycles, financialisation, income distribution.
University of Leeds
Joined July 2020
Pleased to share our new 'DIY Macroeconomic Model Simulation' platform that provides an open-source code repository and online script for macroeconomic model simulation (1/6). https://t.co/ysCImLL4wD
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ICYMI👇
New section on the DIY Macroeconomic Model Simulation Website: A Stock-Flow Consistent Model of the Monetary Circuit https://t.co/gYqJKpSVXe (1/5)
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ICYMI 👇
New section on the DIY Macroeconomic Model Simulation Website: An Evolutionary Game Theoretic Model of the Emergence of Property Rights. https://t.co/TcmrV2bjDK (1/6)
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I hope @Keir_Starmer is reflecting today on how his anti-refuggees rhetoric has emboldened the far right march today in London
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Thousands of far right thugs in Whitehall trying to intimidate anti-fascists on the #StandUptoRacism demonstration. We are holding our ground
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🚨March Against Fascism THIS SATURDAY🚨 ⛔ Tommy Robinson's festival of hate will feature a rogue's gallery of Steve Bannon, Katie Hopkins, Jordan Peterson... 📣 Join thousands in saying #NoRacismNoFascism #RefugeesWelcome #NoPasarán 🕛12 Noon 📍Russell Square
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The section provides a detailed numerical and analytical discussion of the model, including how to construct balance sheet and transaction flow matrices, and a simple recipe for building SFC models. (5/5)
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It shows how changes in aggregate demand drive credit and money creation, and how shifts in liquidity preference can impact bond markets. (4/5)
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The model illuminates the process by which economic production is financed, incorporating the ideas of endogenous money creation and price determination in financial markets. (3/5)
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The section shows how to simulate in R / Python a stock-flow consistent model that captures key ideas of Augusto Graziani’s monetary circuit. The model is an extended version of Wynne Godley’s 2004 paper: https://t.co/zHOKVRlvP6 (2/5).
link.springer.com
One of Graziani’s main themes runs as follows. In order to finance production, the entrepreneur must obtain the funds necessary to pay his workforce in advance of sales taking place. Starting from...
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New section on the DIY Macroeconomic Model Simulation Website: A Stock-Flow Consistent Model of the Monetary Circuit https://t.co/gYqJKpSVXe (1/5)
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New working paper with Jo Michell and @_Ayoze_: "An analytical heterogeneous agent macro model of concentration, markups, and falling labour shares" https://t.co/7oawcErJBo (1/7)
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Estimades no se olviden que este viernes empezamos el seminario con Karsten Kohler. Vamos a tener una discusión sobre simulación de modelos. Si están interesades pueden venir preparados revisando el sitio: https://t.co/Qal5mADyi7 Se registran aquí: https://t.co/rTFeCbZffX
🗣️📡📢Estamos muy emocionadxs de compatirles que el próximo 05 de septiembre inicia el Seminario: "Rethinking Economic Theory with New Analytical Tools" que organizamos @Arimarhol y su servidor en el marco de la Reforma al Plan de Estudios de @FEconomiaUNAMof @depfeunam @rova_35
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The fall in the labour share reduces consumption and slows down growth. Despite its simplicity, the model captures key empirical patterns related to superstar firms and declining labour shares. (7/7)
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market shares, and markups. These dynamics lead to right-skewed distributions, producing a divergence between the average profit share across firms and the aggregate profit share, which is driven up by the biggest firms. (6/7)
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and charge higher markups. At the same time, customers seek lower prices, creating competitive pressure. These mechanisms drive endogenous changes in the firm size distribution. More profitable firms temporarily grow faster, leading to concentration of capital, (5/7)
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The model captures how pricing, investment, and market concentration evolve at the micro level and affect macro-level outcomes. Firms differ in capital size and market share. Larger firms benefit from lower unit costs due to economies of scale, gain larger market shares, (4/7)
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... by comparing two versions of the model: an ABM with bilateral firm-customer matching, and a simplified HAM without direct agent interaction. The HAM replicates key ABM results while allowing for analytical solutions. (3/7)
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The paper presents a small-scale analytical heterogeneous agent model (HAM) to explore firm concentration dynamics and the aggregate effects on distribution and growth. It contributes to recent work on tractable macroeconomic agent-based models (ABMs) ... (2/7)
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New working paper with Jo Michell and @_Ayoze_: "An analytical heterogeneous agent macro model of concentration, markups, and falling labour shares" https://t.co/7oawcErJBo (1/7)
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We find that low capital gains taxes and strong landlord-protection policies that may push households onto the property ladder are linked to more intense house price booms and busts. (6/6)
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