Macroeconomics From the Bottom Up

Level: leicht
Doyne Farmer | INET, 2011

Perspektive: Komplexitätsökonomik
Thema: Methoden
Format: Interview, Dauer: 00:12:53
Link: https://www.youtube.com/watch?v=wC9dCSYAjFs

Based on a critique on econometric and DSGE models (in particular in the context of the financial crisis), Doyne Farmer presents his current research programme that aims at building an agent-based model of the financial and economic crisis. It models heterogeneous agents and from there simulates the economy, firstly for the housing market. The interview gives a short insight in the research programme.