Macroeconomics From the Bottom Up

Doyne Farmer
INET, 2011
Level: leicht
Perspektive: Komplexitätsökonomik
Thema: Reflexion der Ökonomik
Format: Interview
Dauer: 00:12:53
Link: https://www.youtube.com/watch?v=wC9dCSYAjFs
Based on a critique on econometric and DSGE models (in particular in the context of the financial crisis), Doyne Farmer presents his current research programme that aims at building an agent-based model of the financial and economic crisis. It models heterogeneous agents and from there simulates the economy, firstly for the housing market. The interview gives a short insight in the research programme.

Go to: Macroeconomics From the Bottom Up

Tags: agent-based modelling (ABM) | agents | decisions | DSGE (dynamic stochastic general equilibrium) model | econometrics | financial crisis | housing market | macroeconomics | methodology | modelling

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