A Short Walk on the Wild Side: Agent-Based Models and their Implications for Macroeconomic Analysis
Mauro Napoletano
Revue de l'OFCE, 2018, vol. N° 157, issue 3, 257-281
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.
Keywords: agent-based models; macroeconomic analysis; endogenous business-cycles; short and long-run dynamics; monetary and fiscal policy; price vs. quantity adjustments (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (9)
Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=REOF_157_0257 (application/pdf)
http://www.cairn.info/revue-de-l-ofce-2018-3-page-257.htm (text/html)
free
Related works:
Working Paper: A short walk on the wild side: agent based models and their implications for macroeconomic analysis (2018) 
Working Paper: A short walk on the wild side: agent based models and their implications for macroeconomic analysis (2018) 
Working Paper: A Short Walk on the Wild Side: Agent-Based Models and their Implications for Macroeconomic Analysis (2017) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:cai:reofsp:reof_157_0257
Access Statistics for this article
More articles in Revue de l'OFCE from Presses de Sciences-Po
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().