“…While the computational properties of simplified circuits with multiple interneuron types have been investigated theoretically ( Lee et al, 2017 ; Hertäg and Sprekeler, 2019 ; Garcia Del Molino et al, 2017 ; Lee, 2018 ), in the context of vision, locomotion, prediction errors, and whole-brain models ( Lee and Mihalas, 2017 ; Dipoppa et al, 2018 ; Hertäg and Sprekeler, 2020 ; Bensaid et al, 2019 ), the dynamics of more complex networks comprising multiple layers with translaminar connectivity remain unexplored. Moreover, even though models have examined the emergence of oscillations in local ( Lee, 2018 ; Domhof and Tiesinga, 2021 ; Veit et al, 2017 ) and whole-brain neuronal networks ( Bensaid et al, 2019 ) composed of canonical microcircuits, it is unclear how firing rate descriptions of microcircuit function relate to oscillatory behavior of cortical networks, which can differ across cortical layers ( Bastos et al, 2018 ; Adesnik, 2018 ; van Kerkoerle et al, 2014 ). This is crucial to interpret meso- and macroscopic signals from local field potential (LFP), electroencephalography (EEG) and magnetencephalography (MEG) recordings with respect to circuit function, where access to firing rate information is not possible.…”