Research Paper Competition:
Complexity in Macroeconomics

‘Rebuilding Macroeconomics’ is a four-year research project, funded by the Economic and Social Research Council and hosted by the National Institute of Economic and Social Research, to construct a research network promoting interdisciplinary approaches to the study of macroeconomics, and to make recommendations for the future direction of research policy in this area. The role of Complexity has emerged as being critical to this process, and in 2019 Rebuilding Macroeconomics launched a Prize Competition to attract and identify fresh thinking on this subject.

Despite delays caused by the 2020 pandemic, a large number of excellent entries to the Competition were received; and after a prolonged and difficult judging process, the set of winners has now been confirmed.

Video Recording of the Prize Announcement Event

First Prize

Economic Forecasting with an Agent-based Model

Sebastian Poledna, Michael Gregor Miess and Cars Hommes


Second Prize

Reddit’s Self-Organised Bull Runs: Social Contagion and Asset Prices

Valentina Semenova and Julian Winkler

Third Prize

In and Out of Lockdown: propagation of Supply and Demand Shocks in a Dynamic Input-Output Model

Anton Pichler, Marco Pangallo, Maria del Rio-Chanona, Francois Lafond, J. Doyne Farmer

A Celebration of Complexity in Macroeconomics: Event Recording

Introduction: Dr Angus Armstrong, Director, Rebuilding Macroeconomics


Sebastian Poledna, International Institute for Applied Systems Analysis: Economic Forecasting with an Agent-based Model

Valentina Semenova, University of Oxford: Reddit’s Self-Organised Bull Runs

Anton Pichler, University of Oxford: In and out of lockdown: Propagation of supply and demand shocks in a dynamic input-output model


Closing Remarks