Here I will post some more or less interesting news about what I do, about conferences, publications, teaching, and anything else.

New working paper on structural change and path dependent development in Europe

Posted February 16 2018

In the paper Structural change in times of increasing openness: assessing path dependency in European economic integration we study the impacts of increasing European integration. We estimate the reactions of countries to an increase in trade and financial openess and find that the effects on different countries are very heterogeneous. Based on this finding we propose a taxonomy of European economies that consists of core, periphery, financialized and catch-up countries. Studying the structural changes in these countries in more detail we suggest that development tractories in Europe are highly path dependent and relate to the sectoral development of European economies and the evolution of their technological capabilities. This has important implications for policy making.

Material on Summer Course on Computational Economics and Complexity

Posted October 25 2017

This summer I was happy to teach a one-week course on complexity economics and computational methods together with Torsten Heinrich from Oxford University. The Summer Academy is related to Exploring Economics, a wonderful pluralistic economics learning plattform. All the material is available here. Any feedback is, as always, highly welcome.

New working paper on European disintegration

Posted July 26 2017

In the paper Is Europe disintegrating? Macroeconomic divergence, structural polarization, trade and fragility we study the uneven development in Europe since 2000. The basic argument is that European countries follow two different growth trajectories, a debt-led trajectory in the periphery, and an export-led trajectory in the core. We trace the reasons to this to the different level of competitiveness of firms and the technological capabilities in the countries. Our conclusion is that European countries must implement three types of policies simultaneously: macroprudential financial regulation, industrial policy, and progressive redistribution.

The paper is available here and feedback is, as always, highly appreciated.

New working papers: One on informal economic exchange and one on the epistemology of model verification/validation

Posted June 15 2017

I recently finished two working papers: The deals with the functioning of informal economic exchange systems, in particular the value transfer system Hawala. It’s title is Trust and Social Control. Sources of cooperation, performance, and stability in informal value transfer systems. It uses computational experiments to settle an important ambiguity with regard to the stabilizing mechanisms in such systems: is it mainly social control of general trust that is at the core of the system’s stability?

The second is entitled How to relate models to reality? An epistemological framework for the validation and verification of computational models. and takes a more theoretical approach. It suggests an epistemological framework for the validation and verification of computational models. This way, it hopefully contributes to a better understanding and a better comparability of different simulation models.

Feedback on both of them is highly appreciated!

Public lecture on Complexity Economics in Bochum, Germany

Posted June 13 2017

Yesterday I was invited to give a public lecture on Complexity Economics at the Ruhr University in Bochum. The local student group for Pluralism in economics organizes this great even, and I feel proud to be among the speakers. You can find more information on the group and their events on their facebook page. The talk was in German and you can get the material below. Feedback, as always, very welcome!

Slides (German)

Appendix (German)

Keynote at an ABM Workshop in Berlin

Posted May 22 2017

This presentation was a keynote at the workshop “Agent-based modelling in economics – From toy model to verified tool of analysis” organized by Prof. Sylvie Geisendorf . I discuss ways to verify and validate ABM, and interpret these approaches from an epistemological perspective.

Slides (English)

Article on mechanism-based explanations, complexity and institutionalism

Posted May 22 2017

A new article of mine has been published in the recent issue of the Journal of Economic Issues. It is called The Complementary Relationship Between Institutional and Complexity Economics: The Example of Deep Mechanismic Explanations. In the article I discuss the usefulness of mechanism-based explanations when one is dealing with complex systems, and how this aligns well with the research practice of classical institutionalism.

One challenge with mechanism-based explanations is the need for a new criterion to choose among competing explanations. I argue in the article that Mario Bunge’s concept of deep explanations would be very useful in this respect, but that the more widely known concept of Occam’s razor is problematic.

You can access the paper here or use the accepted manuscript .

I stongly recommend you to have a look at the whole issue of the JEI since there are some very cool contributions. Joseph Stiglitz, for example, discusses how one can counter the vested interests of powerful elites in the political discourse. And Torsten Heinrich provides a very illuminating (and truly interdisciplinary) discussion of evolutionary modelling in economics. Very interesting for me who is interested in development economics and Latin America was the paper by Svenja Flechtner: she discusses the “growth mircale” of the Dominican Republic, which turns out to benefit only a few families. Very interesting, but also worrying contribution!

Contribution to a Volume on the Theory and Method of Evolutionary Political Economy

Posted: January 26 2017

Hardy Hanappi, Savvas Katsikides and Manuel Scholz-Wackerle edited a nice volume on Theory and Method of Evolutionary Political Economy. It has now been published by Routledge and I contributed a chapter on how to deal adequately with the political element in formal modelling.

WIWA Young Scholar Award for Pluralism in Economics

Posted: November 25 2016

I am very happy to receive the WIWA Young Scholar Award for Pluralism in Economics. This is an amazing acknowledgement of my work for which I am very grateful. I thank Prof. Joachim Zweynert for initiating the price last year and to the Witten Institute for Institutional Change for giving the award to me.

I will receive the price while giving a lecture on the topic “The complexity challenge: Systemist thinking, computational modeling, and pluralism” in Witten/Herdecke on December 12.

Invited talk on institutional economics and complexity in Berlin

Posted: November 21 2016

The Critical Economists, a highly active student group in Berlin, invited me again to their public lecture series on Schools of thought and controversies in economics

It’s an amazing project that allows students to broaden their horizon and explore different approaches to economic theory as part of their Bachelor or Master at one of the big Universities in Berlin (Free University, Humboldt University, Technical University). Thus, I am happy I could contribute a lecture on institutionalism and an exercise session on agent-based modeling and complexity.

The talk was in German and you can get the material here. As usual, feedback is highly welcome.

Segnitz-Award for the best dissertation

Posted: November 5 2016

I am happy and grateful to receive the generously sponsored Segnitz-Award for the best dissertation at the Department of Business Studies and Economics at the University of Bremen. My dissertation contains a couple of contributions to a systemist approach to economics and features an extensive ontological, epistemological and methodological framework for complexity economics.

Edited volume on policy implications now published

Posted: June 1 2016

Together with Torsten Heinrich and Henning Schwardt I edited a volume on the topic Policy Implications of Recent Advances in Evolutionary and Institutional Economics. It has now been published by Routledge. It contains a number of excellent articles that explore the policy implications of recent theoretical and empirical findings of institutional, evolutionary, and complexity economics.

Keynote at an ABM Workshop in Berlin

Posted: May 22 2016

I recently gave a keynote at the workshop “Agent-based modelling in Ecological Economics - A useful tool or just a fancy gadget?” in Berlin. The workshop was organized by Prof. Sylvie Geisendorf . The talk was in English and you can get the slides here. As usual, feedback is highly welcome.

Talk on the role of networks and complexity in economics

Posted: May 16 2016

I recently gave a talk on the role of networks and complexity in economics in Vienna. The talk was in German and you can get the slides here. Please note that the talk is meant for beginners so so not expect to much technical content. Feedback is, of course, highly welcome.

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