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Introducing Bottom-up Adaptive Macroeconomics Read chapter Read first chapter

2011 | OriginalPaper | Chapter

4. Empirical Validation

Authors : Domenico Delli Gatti, Saul Desiderio, Edoardo Gaffeo, Pasquale Cirillo, Mauro Gallegati

Published in: Macroeconomics from the Bottom-up

Publisher: Springer Milan

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Abstract

The aim of this chapter is to understand to what extent the BAM model described and simulated in Chap.​ 3 is able to reproduce real world phenomena, by applying tools and techniques of empirical external validation (see Fagiolo et al., 2007).

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previous chapter The BAM Model at Work
next chapter Conclusions
Footnotes
1
This does not mean that these data could not be collected in principle. Think for instance to the mass of proprietary data which could be easily retrieved (… if priced at their marginal costs) from the electronic records registering the transactions executed in large chain-stores by possessors of fidelity cards.
 
2
See the Centrale dei Bilanci website at http://www.centraledeibilanci.it.
 
3
The dataste is available at http://www.laboratoriorevelli.it under the WHIP section.
 
4
As in Ijiri et al. (1977), the use of pooled distributions is possible since the yearly distributions show similar slopes.
 
Metadata
Title
Empirical Validation
Authors
Domenico Delli Gatti
Saul Desiderio
Edoardo Gaffeo
Pasquale Cirillo
Mauro Gallegati
Copyright Year
2011
Publisher
Springer Milan
Book
Macroeconomics from the Bottom-up

Print ISBN: 978-88-470-1970-6

Electronic ISBN: 978-88-470-1971-3

Copyright Year: 2011

DOI
https://doi.org/10.1007/978-88-470-1971-3_4