The Empirical Validation of an Agent-based Model
Pasquale Cirillo and
Mauro Gallegati ()
Eastern Economic Journal, 2012, vol. 38, issue 4, pages 525-547
The aim of this paper is to empirically validate the agent-based macroeconomic model of Gaffeo et al. . We show that the microsimulated version of the model is able to replicate actual data with a satisfactory degree of precision. From a theoretical point of view, our validation approach is made up of three different steps: a calibrated microsimulation of the model with actual data, an ex-post descriptive validation of the results, and a simple calibration exercise to ameliorate the goodness-of-fit of the model. The validation procedure of this paper has been performed using Italian data.
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
http://www.palgrave-journals.com/eej/journal/v38/n4/pdf/eej201134a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/eej/journal/v38/n4/full/eej201134a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:pal:easeco:v:38:y:2012:i:4:p:525-547
Ordering information: This journal article can be ordered from
Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
http://www.palgrave- ... subscribe/index.html
Access Statistics for this article
More articles in Eastern Economic Journal from Palgrave Macmillan
Series data maintained by Daniel Foley ().