Description
Book SynopsisThis special issue of the Journal of Economics and Statistics is devoted to the use of agent-based models for economic policy advice. It presents a collection of research papers in different fields of applications. Special emphasis is laid on discussing the potential and possible limitations of agent-based models for economic policy advice. The editorial provides an overview on the role of agent-based modeling in economic policy referring also to the papers presented. Furthermore, it highlights the strength of the approach, i.e., the explicit microfoundation and the modeling of heterogenous agents. Finally, we also report on current limitations of the method with regard to economic policy advice and point at some areas deserving further research.
Table of ContentsBlake LeBaron/Winker, Peter Introduction to the Special Issue on Agent-Based Models for Economic Policy Advice Weidlich, Anke/Daniel Veit Agent-Based Simulations for Electricity Market Regulation Advice: Procedures and an Example Nagel, Kai/Dominik Grether/Ulrike Beuck/Yu Chen/Marcel Rieser/Kai W. Axhausen Multi-Agent Transport Simulations and Economic Evaluation Westerhoff, Frank H. The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies Demary, Markus Who Does a Currency Transaction Tax Harm More: Short-Term Speculators or Long-Term Investors? Dawid, Herbert/Simon Gemkow/Philipp Harting/Kordian Kabus/Michael Neugart/Klaus Wersching Skills, Innovation, and Growth: An Agent-Based Policy Analysis Haber, Gottfried Monetary and Fiscal Policy Analysis With an Agent-Based Macroeconomic Model
