The ideas and results in this book represent the culmination of a research project aimed at exploring macroeconomic issues moving from premises alternative to those employed by the current mainstream. The nickname informally assigned to the project – CATS – was originally chosen to honour two members of the research group (DDG and MG), as that was the way the lamented Hyman Minsky once baptised them because of an allegedly common zoological root in their family names. After joking on it for some time we realized that CATS could also perfectly summarize the deep-rooted methodology inspiring our approach, according to which any economy – and, a fortiori, a large industrialized macro-economy – should be modelled as a Complex AdapTive System to be analyzed by means of agent-based computational experiments.
1. Introducing Bottom-up Adaptive Macroeconomics
2. The Making of the BAM Model
3. The BAM Model at Work
4. Empirical Validation