Abstract:
Economists and policy makers have maintained a sustained interest in understanding the effects of macroprudential economic policies. Recently, a novel approach using agent-based models has emerged, which provides insights into the complexity of these policies. Agent-based models (ABM) are a type of computer simulation that has proven instrumental in shedding light on how different types of economic agents interact in a heterogeneous environment. In this post, we will explore the use of agent-based models and high performance computing on AWS used by researchers at the University of Oxford’s Institute for New Economic Thinking (INET) to enhance our comprehension of macroprudential policies and their potential implications on economic systems.
Citation:
Gleiser, I., Farmer, J.D., Kaszowska-Mojsa, J. & Bydlon, S. (2024), 'How agent-based models powered by HPC are enabling large scale economic simulations', aws, https://aws.amazon.com/blogs/hpc/how-agent-based-models-powered-by-hpc-are-enabling-large-scale-economic-simulations/