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The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies
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Frank H. Westerhoff
Veröffentlicht/Copyright:
16. März 2016
Summary
Models with heterogeneous interacting agents have proven to be quite successful in the past. For instance, such models are able to mimic the dynamics of financial markets quite well. The goal of our paper is to explore whether this approach may offer new insights into the working of certain regulatory policies such as transaction taxes, central bank interventions and trading halts. Although this strand of research is rather novel, we argue that agent-based models may be used as artificial laboratories to improve our understanding of how regulatory policy tools function.
Keywords: Financial markets; technical and fundamental analysis; transaction taxes; central bank interventions; trading halts
Online erschienen: 2016-3-16
Erschienen im Druck: 2008-4-1
© 2008 by Lucius & Lucius, Stuttgart
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Artikel in diesem Heft
- Titelei
- Inhalt / Contents
- Abhandlungen / Original Papers
- Introduction to the Special Issue on Agent-Based Models for Economic Policy Advice
- Agent-Based Simulations for Electricity Market Regulation Advice: Procedures and an Example
- Multi-Agent Transport Simulations and Economic Evaluation
- The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies
- Who Does a Currency Transaction Tax Harm More: Short-Term Speculators or Long-Term Investors?
- Skills, Innovation, and Growth: An Agent-Based Policy Analysis
- Monetary and Fiscal Policy Analysis With an Agent-Based Macroeconomic Model
Schlagwörter für diesen Artikel
Financial markets;
technical and fundamental analysis;
transaction taxes;
central bank interventions;
trading halts
Artikel in diesem Heft
- Titelei
- Inhalt / Contents
- Abhandlungen / Original Papers
- Introduction to the Special Issue on Agent-Based Models for Economic Policy Advice
- Agent-Based Simulations for Electricity Market Regulation Advice: Procedures and an Example
- Multi-Agent Transport Simulations and Economic Evaluation
- The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies
- Who Does a Currency Transaction Tax Harm More: Short-Term Speculators or Long-Term Investors?
- Skills, Innovation, and Growth: An Agent-Based Policy Analysis
- Monetary and Fiscal Policy Analysis With an Agent-Based Macroeconomic Model
