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Sure, they've tried but it does not mean it hasn't evolved https://www.centralbanking.com/central-banks/economics/macroeconomics/7972592/agent-based-models-com
by dlojudice 2y ago
Sure, they've tried but it does not mean it hasn't evolved
https://www.centralbanking.com/central-banks/economics/macroeconomics/7972592/agent-based-models-come-of-age https://www.centralbanking.com/central-banks/economics/macro...
https://www.bankofengland.co.uk/working-paper/2025/agent-based-modeling-at-central-banks-recent-developments-and-new-challenges https://www.bankofengland.co.uk/working-paper/2025/agent-bas...
- noitpmeder 2y agoSure, just don't necessarily sell them as "more realistic" if they're not performing as well in real situations
- littlestymaar 2y agoIts not like the classical models are any good in terms for performance in real situations, as they have proven to be unable to predict anything over the past 40 years better than a basic linear extrapolation from the trend would have. Current macro-economics models are arguably not much better than a broken clock in terms of predicting power.