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14min chapter
The Orthogonal Bet: Complex economics is applying complex systems methods
Riskgaming
Modeling Economic Shocks in Crisis
This chapter explores the complex dynamics of predicting economic outcomes following labor shocks during crises like COVID-19. It introduces a novel micro-macro model that captures both individual behaviors and macroeconomic trends, emphasizing its improvements over traditional economic models. The authors aim to develop comprehensive simulation tools that assist businesses and governments in strategic planning by accurately forecasting the impacts of their decisions.
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