Arzu Uluc: 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.

Please note this event will not be recorded.