Grazzini, Jakob; Richiardi, Matteo G. - Collegio Carlo Alberto, Università degli Studi di Torino - 2013
Agent-based (AB) models are considered a promising tool for macroeconomic analysis. However, until estimation of AB models become a common practice, they will not get to the center stage of macroeconomics. Two difficulties arise in the estimation of AB models: (i) the criterion function has no...