The macro economy, like the global climate, is a complex system (highly nonlinear and buffeted by random shocks) that defies attempts to model it and predict its future path. The challenge of ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

Applied economics translates theoretical and empirical methods into practical analyses of real-world problems across sectors and regions. It draws on micro- and macroeconomic modelling, econometric ...

Financial institutions are increasingly using economic capital models to help determine the amount of capital they need to absorb unexpected losses. These models typically aggregate capital based on ...