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Agent Based Models: A New Tool for Economic and Policy Analysis

Author

Listed:
  • Mauro Napoletano

    (Observatoire français des conjonctures économiques)

  • Jean-Luc Gaffard

    (Observatoire français des conjonctures économiques)

  • Zakaria Babutsidze

Abstract

Are current economic models well equipped to provide useful policy prescriptions? Many economists would have certainly answered, “yes” before the recent Global Recession. This economic crisis has not only demonstrated the importance of banking and financial markets for the dynamics of real economies. It has also revealed the inadequacy of the dominant theoretical framework. Standard models have indeed failed to forecast the advent of the crisis. In addition, they have been unable to indicatea therapy able to restore economic growth.

Suggested Citation

  • Mauro Napoletano & Jean-Luc Gaffard & Zakaria Babutsidze, 2012. "Agent Based Models: A New Tool for Economic and Policy Analysis," Sciences Po publications info:hdl:2441/121881fn7h9, Sciences Po.
  • Handle: RePEc:spo:wpmain:info:hdl:2441/121881fn7h9haadnuq3gp3ujjd
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Jean-Luc Gaffard & Mauro Napoletano, 2012. "Improving the toolbox. New advances in Agent-based and Computational Models," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(5), pages 7-13.
    2. Caleb Stroup, 2015. "International Deal Experience and Cross-Border Acquisitions," Working Papers 15-03, Davidson College, Department of Economics.
    3. Jean-Luc Gaffard & Mauro Napoletano, 2012. "Introduction. Improving the Toolbox," Post-Print hal-01053562, HAL.
    4. repec:eee:finlet:v:24:y:2018:i:c:p:278-288 is not listed on IDEAS
    5. repec:dav:wpaper:15-02 is not listed on IDEAS
    6. Didier Blanchet & Cyrille Hagneré & François Legendre & Florence Thibault, 2015. "Introduction. Microsimulations statique et dynamique appliquées aux politiques fiscales et sociales : modèles et méthodes," Économie et Statistique, Programme National Persée, vol. 481(1), pages 5-30.

    More about this item

    Keywords

    Economic models; Economic crisis; Economic policy;

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables

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