Agent-Based Modelling and Policy Analysis Using the Eurace@Unibi Model
in: Lectures "WIFO-Extern"
Lectures "WIFO-Extern", Österreichisches Institut für Wirtschaftsforschung, Wien, 24.09.2019
Online since: 11.09.2019 0:00
After a brief general discussion of the agent-based approach for macroeconomic modelling I introduce the Eurace@Unibi model
as an example of an agent-based macroeconomic model suitable for policy analysis. The ability of the model to reproduce empirical
stylised facts on different levels of aggregation is reviewed and its potential as a tool for policy analysis is illustrated
considering the implications of different types of cohesion policy measures and the effect of decentralisation of wage setting
on growth and inequality.