The report warns many economic models are failing to capture extreme weather events and rising uncertainty likely to dominate ...

Economic models used by governments, central banks and investors are increasingly understating physical climate risk because ...

Explore how the circular flow model illustrates money's movement through an economy, cycling from producers to consumers, influencing GDP.

The Nobel Memorial Prize in Economic Science was awarded today to two scholars who revolutionized the technique of statistically modeling national economies, stock markets, and other complex systems ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

Using a microsimulation approach, this study modeled the potential multiyear health and economic benefits of participating in cardiometabolic virtual-first care programs. Objectives: This study ...

New economic modeling shows that there is a near certainty that the economy will enter a recession within the next year. The news comes as the Federal Reserve continues its most aggressive tightening ...