07.05.2025

Microdata in Macromodels

Workshop Organised by IIASA, WU Vienna and WIFO
From 29 to 30 April 2025, the International Institute of Applied System Analysis (IIASA), the Vienna University of Economics and Business (WU Vienna) and the Austrian Institute of Economic Research (WIFO) hosted a workshop on the rapidly developing field of microdata use for macroeconomic and sectoral impact assessment.

The workshop combined the ideas of experienced and young researchers, with the aim of fostering discourse and collaboration. The trend towards opening microdata to research, advances in computing power and statistical analysis are fostering interest in large simulation models that take account for the heterogeneity of economic agents.

Governments are increasingly concerned with the distributional consequences of fiscal policies and pension reforms. Central banks need to assess how heterogeneity in consumption behaviour influences the effectiveness of monetary policy. Policy lessons from the COVID-19 pandemic and the resulting supply chain disruptions highlight the need to understand the role of networks that connect heterogeneous economic actors.

The workshop brought together researchers working on modelling in three distinct but related areas: agent-based modelling, microsimulation, and heterogeneous agent modelling. The applications cover a wide range of applications, including macroeconomic dynamics, consumer behaviour, firm production networks, real estate, and banking markets, and are united by their novel statistical and modelling approaches to microdata.

Workshop Organised by IIASA, WU Vienna and WIFO
07.05.2025
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