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Agent-based models: understanding the economy from the bottom up
Quarterly Bulletin 2016 Q4
Published on
16 December 2016
By Arthur Turrell
This article considers the strengths of agent-based modelling, which explains the behaviour of a system by simulating the behaviour of each individual ‘agent’ in it, and the ways that it can be used to help central banks understand the economy.
By Arthur Turrell
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