CORDIS Project
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This project focuses on enhancing Agent-based Computational Economics models to better analyze private and public debt dynamics. By improving calibration, validation, and evaluation of systemic risk, the research aims to provide insights into preventing financial crises and informing policy interventions for central ba…
The recent economic crisis has also been a crisis for economic theory.
Hence, the economic profession started to debate and prepare a methodological reconsideration about the general role of economic models; new modeling strategies, alternative and complementary to the standard Dynamic Stochastic General Equilibrium (DSGE) models, have therefore emerged.
Among these innovative approaches, Agent-based Computational Economics (ACE) started to occupy a prominent role.
However, ACE models still need…
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