Housing Market Agent-Based Model

Description

A preliminary version of an agent-based model that simulates the behaviour of every household in the economy suggest that leverage and lending policy rather than interest rates, played the dominant role in the housing boom and bust from 1997–2009.  The initial model has been fitted with data for the Washington, DC housing market and in future the model will be fitted and tested on data in other markets.

Project Leader / Primary Investigator

Prof. Robert Axtell & Prof. J. Doyne Farmer

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