Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Show HN: A central bank simulator game with a realistic economic model

benoitessiambre.com

Post reply on HN
Print view View original

111–120 of 323 posts

Re: Show HN: A central bank simulator game with a realistic economic model

#111

Post by BenoitEssiambre »

mhh__ wrote: post #105

> A lot of real economic models involve advanced math and differential equations. The goal here was to keep this type of mumbo jumbo to a minimum to make it more easily understandable for those who like to right click view source (and more importantly to make it less work for me to build). > mumbo jumbo It's very efficient mumbo-jumbo, though. I've spent years learning maths, but not economics, so just show me the eq…

This was a bit tongue in cheek. I love math too. I wish I had the time to learn the more "grown up" models like the DSGEs (https://en.wikipedia.org/wiki/Dynamic_stochastic_general_equ... )

Re: Show HN: A central bank simulator game with a realistic economic model

#113

Post by mhh__ »

BenoitEssiambre wrote: post #111
mhh__ wrote: post #105

> A lot of real economic models involve advanced math and differential equations. The goal here was to keep this type of mumbo jumbo to a minimum to make it more easily understandable for those who like to right click view source (and more importantly to make it less work for me to build). > mumbo jumbo It's very efficient mumbo-jumbo, though. I've spent years learning maths, but not economics, so just show me the eq…

This was a bit tongue in cheek. I love math too. I wish I had the time to learn the more "grown up" models like the DSGEs ( https://en.wikipedia.org/wiki/Dynamic_stochastic_general_equ... )

I gathered that was your opinion given that you actually implemented the model but one of my mantra's is basically "Calculus good actually" when it comes to programming so I thought I'd take the opportunity to propitiate.

Re: Show HN: A central bank simulator game with a realistic economic model

#114

Post by BirAdam »

selectodude wrote: post #67
BirAdam wrote: post #47

Earlier quoted context omitted.

The Great Depression happened after the US central bank was created in 1913.

The Fed didn’t have any ability to effect money supply until 1932 when the US went off the gold standard.

No, but the Fed did have the ability to extend credit beyond the reserve of gold.

Re: Show HN: A central bank simulator game with a realistic economic model

#115

Post by enviclash »

This is a very nice toy model, perhaps the only surprise came while reading "profits are distributed equally as dividends to everyone". I was wondering if this turns the simulation into a combination of capitalism and communism? Not sure how to find a simple alternative, any ideas anyone? Thanks!

Re: Show HN: A central bank simulator game with a realistic economic model

#116

Post by marcosdumay »

fartcannon wrote: post #109
OJFord wrote: post #61

Earlier quoted context omitted.

Similarly I immediately lowered to -0.25% and left it there, really quite stable and climbed gradually (not monotically, but close) to 442370. I assume it needs a bit of a tweak for negative inflations, or is limited by the events being fixed - 'people spend 12% less' is more likely to happen at higher interest rates for example. And in particular if we weren't leaving it fixed but had only just lowered it, (i.e. inc…

Isn't a negative interest rate basically UBI?

Yes, as long as the B stands for Big Business.

Re: Show HN: A central bank simulator game with a realistic economic model

#118

Post by adam_arthur »

nwah1 wrote: post #102
zeusk wrote: post #68

Earlier quoted context omitted.

How is QE or low rates not money printing? Low rates causes higher private lending, borrowing creates money (fractional reserve banking). QE also creates money by Federal Reserve buying Treasury's bonds with printed dollars. Both of these are temporary, but we have had QE and low rates for over a decade now. QE was supposed to be unwound in 2018, but covid pushed it to new peaks.

https://www.pragcap.com/bernanke-explains-why-qe2-is-not-mon...

Suppressing rates via QE multiplies the spending power of a dollar, which has a very similar effect as creating more currency

Re: Show HN: A central bank simulator game with a realistic economic model

#119

Post by toolz »

wsc981 wrote: post #99
toolz wrote: post #92

Earlier quoted context omitted.

I don't know where I first read it, but here's an article talking about it https://www.nasdaq.com/articles/generational-wealth%3A-why-d... Apparently this has been the case for long enough that there's even an old Chinese proverb > Wealth does not pass three generations

I believe it’s not really true for Europe, at least regarding the most wealthy families [0]. ——— [0]: https://www.fa-mag.com/news/how-to-stay-rich-in-europe--inhe...

I don't see how that article suggests it's different in Europe.

Re: Show HN: A central bank simulator game with a realistic economic model

#120

Post by kolanos »

selectodude wrote: post #67
BirAdam wrote: post #47

Earlier quoted context omitted.

The Great Depression happened after the US central bank was created in 1913.

The Fed didn’t have any ability to effect money supply until 1932 when the US went off the gold standard.

Pretty sure the Federal Reserve was setting reserve requirements from day one, which has a direct effect on the money supply.
Post reply on HN