Handling carefully monetary and real flows, given by agents’ behaviors and interactions, is a key requirement when dealing with complex economic models populated by a high number of agents. The paper shows how the stock-flows consistency issue has been faced in the EURACE model, by considering a dynamic balance sheet approach for modeling and validation purposes.
Balance sheet approach to agent-based computational economics: the EURACE project
TEGLIO, ANDREA;RABERTO, MARCO;CINCOTTI, SILVANO
2010-01-01
Abstract
Handling carefully monetary and real flows, given by agents’ behaviors and interactions, is a key requirement when dealing with complex economic models populated by a high number of agents. The paper shows how the stock-flows consistency issue has been faced in the EURACE model, by considering a dynamic balance sheet approach for modeling and validation purposes.
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