Agent-based models for policy – past, present, future
Bank of England is one of the policy institutions at the frontier of exploring agent-based models (ABM) to address some of the policy questions that it is facing. In this talk, we will take you through how researchers at the Bank have been using this modelling approach to simulate complex interactions between different agents in the economy to assess the potential impact of prudential policies. The talk will mainly focus on the results from: (i) an agent-based model of the UK housing market, investigating the impact of loan-to-value and loan-to-income limits on key housing market indicators; and (ii) a macroeconomic agent-based model, studying the joint impact of borrower and lender-based prudential policies on the housing and credit markets and the economy more widely.

About the speaker:

Arzu Uluc is Research Coordinator in the Financial Stability Strategy and Risk Directorate at the Bank of England.

Please note this event will be in hybrid format but will not be recorded.
Date: 6 November 2024, 14:30 (Wednesday, 4th week, Michaelmas 2024)
Venue: Manor Road Building, Manor Road OX1 3UQ
Venue Details: Seminar Room G and online via Zoom
Speaker: Arzu Uluc (Bank of England)
Organising department: Institute for New Economic Thinking
Organisers: Dorothy Nicholas (INET Oxford), Francois Lafond (INET Oxford)
Organiser contact email address: complexity@inet.ox.ac.uk
Host: Professor Doyne Farmer (INET Oxford)
Part of: INET Complexity Economics Seminars
Booking required?: Required
Booking url: https://www.eventbrite.co.uk/e/agent-based-models-for-policy-past-present-future-tickets-1036632835717
Audience: Public
Editors: Dorothy Nicholas, Fiona Burbage