EconPapers    
Economics at your fingertips  
 

A Short Walk on the Wild Side: Agent-Based Models and their Implications for Macroeconomic Analysis

Mauro Napoletano ()

No 2017-40, GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis

Abstract: I discuss recent advances in agent-based modelling applied to macroeconomic analysis. I first present the building blocks of agent- based models. Furthermore, by relying on examples taken from recent works, I argue that agent-based models 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 agentbased 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)
JEL-codes: B41 B50 E32 E52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cmp, nep-hme and nep-mac
Date: 2017-12
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Forthcoming in Revue de l'OFCE

Downloads: (external link)
http://www.gredeg.cnrs.fr/working-papers/GREDEG-WP-2017-40.pdf First version (application/pdf)

Related works:
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:gre:wpaper:2017-40

Access Statistics for this paper

More papers in GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis Contact information at EDIRC.
Bibliographic data for series maintained by Patrice Bougette ().

 
Page updated 2019-04-15
Handle: RePEc:gre:wpaper:2017-40