Agent-based models: understanding the economy from the bottom up

Arthur Turrell

Bank of England Quarterly Bulletin, 2016, vol. 56, issue 4, 173-188

Abstract: This article considers the strengths of agent-based modelling, which explains the behaviour of a system by simulating the behaviour of each individual ‘agent’ in it, and the ways that it can be used to help central banks understand the economy.

Date: 2016
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