Check out Shadow of the Wind by Carlos Ruiz Zafón. I loved this book so much. It's contemporary fiction (published in 2001) but the influence of Eco is apparent from the first page.

Roberto Calasso is within that scene, Calvino is a fan of him especially. Most of his books are focused on a kind of holistic view of literature at a specific time, varying from Greek Mythology to the 20th century so just look up his bibliography and pick whatever there interests you the most. In particular I think The Marriage of Cadmus and Harmony was excellently written. He's not a fiction author though if that is what you are looking for.

Seconding Julio Cortazar. Adolfo Bioy Casares and Silvina Ocampo were contemporaries of Borges, that fit the bill too, especially The Invention of Morel by Bioy Casares was one of Borges' favorites. For more modern stuff, Piranesi by Susanna Clarke

You might enjoy Miguel de Unamuno

Cronopios y Famas by Julio Cortazar, there’s a great English translation

Read Dictionary of the Khazars by Milorad Pavic. That's the closest to the trio I've found so far. In terms of other complex, allusive literary fiction try Melville, Nabokov and Pynchon. For complex, allusive genre fiction try John Crowley, Michael Swanwick, and especially Gene Wolfe.