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Agent Based Models

Author

Listed:
  • Mauro Napoletano

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Jean-Luc Gaffard

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Zakaria Babutsidze
Abstract
Are current economic models well equipped to provide useful policy prescriptions? Many economists would have certainly answered, "yes" before the recent Global Recession. This economic crisis has not only demonstrated the importance of banking and financial markets for the dynamics of real economies. It has also revealed the inadequacy of the dominant theoretical framework. Standard models have indeed failed to forecast the advent of the crisis. In addition, they have been unable to indicatea therapy able to restore economic growth.

Suggested Citation

  • Mauro Napoletano & Jean-Luc Gaffard & Zakaria Babutsidze, 2012. "Agent Based Models," Post-Print hal-03461262, HAL.
    • Handle: RePEc:hal:journl:hal-03461262
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03461262
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