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

  • Mauro Napoletano

    (OFCE)

  • Jean-Luc Gaffard

    (OFCE)

  • Zakaria Babutsidze

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 indicate a therapy able to restore economic growth (...).

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Paper provided by Sciences Po in its series Sciences Po publications with number 3.

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Date of creation: 15 Mar 2012
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Handle: RePEc:spo:wpmain:info:hdl:2441/53r60a8s3kup1vc9l5643ehjk
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  1. Martin Berka & Christian Zimmermann, 2012. "Basel Accord and Financial Intermediation: The Impact of Policy," Working Paper Series 04_12, The Rimini Centre for Economic Analysis.
  2. Giovanni Dosi & Giorgio Fagiolo & Andrea Roventini, 2008. "Schumpeter Meeting Keynes: A Policy-Friendly Model of Endogenous Growth and Business Cycles," LEM Papers Series 2008/21, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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  26. repec:thk:rnotes:6 is not listed on IDEAS
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