We developed a large macroeconomic agent-based model for all 38 OECD member countries using OECD, IMF, ECB, BIS, and S&P data. Calibrated using approximate Bayesian inference methods & tested by making out-of-sample forecasts, showing a high statistical significance compared to a benchmark ABM.
New paper on Forecasting with Agent-Based Models from Sam Wiese, Jagoda Kaszowska-Mojsa, @joelnmdyer.bsky.social, @j0mrn.bsky.social, Marco Pangallo, Francois Lafond, John Muellbauer, Ani Calinescu, @doynefarmer.bsky.social #Complexity #EconSky www.inet.ox.ac.uk/publications...
In the last few years, economic agent-based models have made the transition from qualitative models calibrated to match stylised facts to quantitative…
And it's built on a platform designed to easily create and test alternative models.