Work

The DSK stock-flow consistent agent-based integrated assessment model

Year: 2025

Type: article

Abstract: We present an updated, stock-flow consistent version of the ‘Dystopian Schumpeter meeting Keynes’ agent-based integrated assessment model. By embedding the model in a fully specified accounting system, all balance sheet items and financial flows can be explicitly and consistently tracked throughout a simulation. This allows for improved analysis of climate change and climate policy scenarios in terms of their systemic implications for agent and sector-level balance sheet dynamics and financial stability. We provide an extensive description of the updated model, representing the most detailed outline of a model from the well-established ‘Keynes + Schumpeter’ family available to date. Following a discussion of calibration and validation, we present a range of example scenarios.

Source: Ecological Economics

DOI: 10.1016/j.ecolecon.2025.108641

Authors: Severin Reissl, Luca E. Fierro, Francesco Lamperti, Andrea Roventini

Institutions: RFF-CMCC European Institute on Economics and the Environment, CMCC Foundation - Euro-Mediterranean Center on Climate Change, International Institute for Applied Systems Analysis, Scuola Superiore Sant'Anna

Language: English

Topic: Climate Change Policy and Economics

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Climate action

Open Access status: hybrid

Estimated APC paid: $3,730