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Otto-Friedrich-Universität Bamberg >
Bamberg Economic Research Group, Universität Bamberg >
BERG Working Paper Series, Universität Bamberg >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/66136
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Westerhoff, Frank | | en_US |
| dc.contributor.author | | Franke, Reiner | | en_US |
| dc.date.accessioned | | 2012-11-09 | | en_US |
| dc.date.accessioned | | 2012-11-09T11:04:39Z | | - |
| dc.date.available | | 2012-11-09T11:04:39Z | | - |
| dc.date.issued | | 2012 | | en_US |
| dc.identifier.isbn | | 978-3-943153-02-6 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/66136 | | - |
| dc.description.abstract | | With the help of two examples, we illustrate the usefulness of agent-based models as a tool for economic policy design. In our first example, we apply a financial market model in which the order flow of speculators, relying on technical and fundamental analysis, generates intricate price dynamics. In our second example, we apply a Keynesian-type goods market model in which the investment behavior of firms, relying on extrapolative and regressive predictors, generates complex business cycles. We add a central authority to these two setups and explore the impact of simple intervention strategies on the model dynamics. Based on these experiments, we conclude that agent-based models may help us to understand how markets function and to evaluate the effectiveness of various stabilization policies. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | BERG Bamberg | | en_US |
| dc.relation.ispartofseries | | BERG Working Paper Series 88 | | en_US |
| dc.subject.jel | | C63 | | en_US |
| dc.subject.jel | | D84 | | en_US |
| dc.subject.jel | | E32 | | en_US |
| dc.subject.jel | | G12 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Agent-based models | | en_US |
| dc.subject.keyword | | Economic policy design | | en_US |
| dc.subject.keyword | | Financial markets | | en_US |
| dc.subject.keyword | | Goods markets | | en_US |
| dc.subject.keyword | | Simulation analysis | | en_US |
| dc.title | | Agent-based models for economic policy design: Two illustrative examples | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 729497356 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| dc.identifier.repec | | RePEc:zbw:bamber:88 | | - |
| Appears in Collections: | | BERG Working Paper Series, Universität Bamberg
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