Agent-Based Macroeconomics

Dawid H, Delli Gatti D. Agent-Based Macroeconomics. Universität Bielefeld Working Papers in Economics and Management. Vol 02-2018. Bielefeld: Bielefeld University, Department of Business Administration and Economics; 2018.This chapter surveys work dedicated to macroeconomic analysis using an agent- based modeling approach. After a short review of the origins and general characteristics of this approach a systemic comparison of the structure and modeling assumptions of a set of important (families of) agent-based macroeconomic models is provided. The comparison highlights substantial similarities between the different models, thereby identifying what could be considered an emerging common core of macroeconomic agent-based modeling. In the second part of the chapter agent-based macroeconomic research in different domains of economic policy is reviewed