A short walk on the wild side : agent based models and their implications for macroeconomic analysis - Sciences Po Access content directly
Journal Articles Revue de l'OFCE Year : 2018

A short walk on the wild side : agent based models and their implications for macroeconomic analysis

Abstract

This article discusses recent advances in agent-based modelling applied to macroeconomic analysis. I first introduce the building blocks of agent-based models. Furthermore, by relying on examples taken from recent works, I argue that that agent-based models may provide complementary or new lights with respect to more standard models on key macroeconomic issues like endogenous business cycles, the interactions between business cycles and long-run growth, and the role of price vs. quantity adjustments in the return to full employment. Finally, I discuss some limits of agent-based models and how they are currently addressed in the literature.
Fichier principal
Vignette du fichier
15-157-2018-a-short-walk-on-the-wild-size-mnapoletano.pdf (928.16 Ko) Télécharger le fichier
Origin : Publisher files allowed on an open archive

Dates and versions

hal-03443471 , version 1 (23-11-2021)

Identifiers

Cite

Mauro Napoletano. A short walk on the wild side : agent based models and their implications for macroeconomic analysis. Revue de l'OFCE, 2018, Whither the Economy?, 3 (157), pp.257 - 281. ⟨10.3917/reof.157.0257⟩. ⟨hal-03443471⟩
19 View
27 Download

Altmetric

Share

Gmail Facebook Twitter LinkedIn More