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Agent-Based Computational Macro-economics: A Survey

Conference paper

Abstract

While by all standards the macroeconomic system is qualified to be a complex adaptive system, mainstream macroeconomics is not capable of demonstrating this feature. Recent applications of agent-based modeling to macroeconomics define a new research direction, which demonstrates how the macroeconomic system can be modeled and studied as a complex adaptive system. This paper shall review the development of agent-based computational modeling in macroeconomics.

Keywords

Complex adaptive system Agent-based computational economics Adaptive economic agents Rational expectations equilibrium 

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Copyright information

© Springer Japan 2003

Authors and Affiliations

  1. 1.AI-ECON Research Center, Department of EconomicsNational Chengchi UniversityTaipeiTaiwan

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