Workshop

ABM4Policy Workshop

The Agent-Based Modelling for Policy (ABM4Policy) workshop will be held on November 15 and 16 at the Bank of England in London.

The workshop aims to foster an open dialogue between academics and policy makers from central banks and other international institutions to present papers, and discuss open issues and challenges in using agent-based models for policy analysis.

Presentations of academic papers are followed by remarks from relevant areas in the Bank of England (BoE) on the key policy questions that research can help to address.

Please register here to attend in-person or receive a link for the live-stream.

Programme

15 November 2023

Registration (13:30-14:00)

Opening Remarks - Arzu Uluc (14:00-14:15)

Session 1: Monetary Toolkit (14:15-16:00)

Chair - Lilit Popoyan

Presentations 

1. Understanding Post-Pandemic Inflation Dynamics with a Behavioral Macroeconomic Model of the Canadian Economy – Sebastian Poledna (International Institute for Applied Systems Analysis) 

2. Post-COVID Inflation & the Monetary Policy Dilemma: An Agent-Based Scenario Analysis - Max Sina Knicker (Ecole Polytechnique Paris) 

3. Same old song: On the macroeconomic and distributional effects of leaving a Low Interest Rate Environment – Alberto Botta (University of Greenwich) 

Coffee Break (16:00-16:30)

Remarks by May Rostom (BoE Monetary Analysis Directorate) and discussion (16:30-17:15)

Drinks & Dinner (17:30)

16 November 2023

Registration (8:30-9:00)

Session 2: Estimation of ABMs (9:00-10:00)

Chair – Marc Hinterschweiger 

1. Bayesian estimation of a large-scale macroeconomic agent-based model – Sylvain Barde (University of Kent) 

2. Black-box and gradient-assisted Bayesian inference for agent-based models in economics and the social sciences – Joel Dyer (INET University of Oxford) 

Coffee Break (10:00-10:30)

Session 3: Climate Risk (10:30-11:40)

Chair - Andrea Roventini

1. A Framework for Understanding Systemic Implications of Climate Transition Risk: An Application using Canadian Financial System Data – Javier Ojea-Ferreiro (Bank of Canada) 

2. Remarks by Timothy Rawlings (BoE Climate Hub) and discussion

Break (11:40-12:00)

Session 4: Future of Finance (12:00-13:10)

Chair – Marco Bardoscia  

1. To Demand or Not to Demand: On Quantifying the Future Appetite for CBDC – Marco Gross (International Monetary Fund) 

2. Remarks by Nick Mclaren (BoE CBDC Unit) and discussion 

Lunch (13:10-14:00) 

Session 5: Open Economy (14:00-15:10)

Chair – Marc Hinterschweiger  

1. The interplay between real and exchange rate market: an agent-based model approach – Lilit Popoyan (Queen Mary University of London) 

2. Remarks by Alex Haberis (BoE International Directorate) and discussion 

Coffee Break (15:10-15:30)

Session 6: Young Scholars Initiative (15:30-16:30) 

Chair – Arzu Uluc  

1. Mind the Knowledge Gap! The Origins of Declining Business Dynamism in a Macro Agent-based Model – Enrico Maria Turco (Università Cattolica del Sacro Cuore) 

2. Dancing without music: Analysing investment surges in an Agent-Based Stock-Flow Consistent Sraffian Supermultiplier Model – Gabriel Petrini (University of Campinas) 

Closing Remarks (16:30-17:00)

ABM4Policy Organising Committee 

Marco Bardoscia, Marc Hinterschweiger and Arzu Uluc (Bank of England), 

Adrian Carro (Banco de España), 

Lilit Popoyan (Queen Mary University of London), 

Andrea Roventini (Scuola Superiore Sant’Anna), 

Mauro Napoletano (Université Côte d'Azur).