Simulations in Intermediate Macroeconomics
Made by Blanchet to accompany his paper "Uncovering the Dynamics of the Wealth Distribution", this interactive tool lets the user set a schedule of wealth tax and some behavioural parameters to describe how people react to the tax. It displays the resulting revenue and the effect on inequality, accounting for the long-term effect of the tax on wealth accumulation. It uses data on US wealth distribution as a starting point. Notes at the foot of the page explain the mathematical model and link to the full paper.
Interactive site that lets the user choose a geographical region (World or one of eight regions), a number of wealth tax brackets and their percentages, as well as parameters for depreciation and tax evasion. It generates graphs of the effective wealth tax rate and the effect on inequality.
A macroeconomic simulation game intended for education and training, Rolesia can be used from desktop, tablet and smartphone platforms. Each player gets a virtual country using a 130-variable model. The model includes a national budget, a stock market, international currency trading and central banking, among other aspects. The tutor can choose the level of complexity of the choices made, and can opt for a simuation of the US economy. The software comes in two online versions. The free version includes most of the features of the paid version and can be used for ten days. The paid version allows some additional complexity options and additional choices including Quantitative Easing.
This is an eight industry model which develops a microeconomy that generates a macroeconomy. Tabs at the top of the screen link to documentation. The business cycle obtained by pressing the next year key is the same every time unless the participant changes an input or chooses a monetary, fiscal or price policy. The goal of the simulation is to encourage students to outperform the standard market run over 10 or 20 years. Different settings yield hundreds of different results as students work individually or together in competitive teams to achieve the highest score.
Interactive site to visualise the effects of wealth taxes in the UK. The reader can design their own wealth tax schedule, either for an annual or one-off tax, and see the resulting average tax rate plotted by absolute wealth or percentile wealth. Users can put in details of their own wealth, income, and expenditure, and see the results of the chosen tax schedule and see how much they would have to pay. The site calculates the income tax or VAT increase that would generate the same revenue as the proposed wealth tax.
The site enables you to work with a U.S. macroeconometric model or a multicountry econometric model to forecast, do policy analysis, and examine historical episodes. For example, you can change government policy variables and examine the estimated effects of the changes. Menu-driven econometric models of the US economy and of multi-country economies suitable for research, forecasting, policy and teaching purposes are provided. The models run in a web-browser but are also available in downloadable form.
