Agent-based macroeconomics

The research topic on agent-based macroeconomics has involved some researchers in the DOGE unit for more than 20 years and has been developed within two European projects and several national research projects. In this context, a large-scale macroeconomic simulator with agents was developed ( which constitutes an international reference point. The simulator is used as a computational laboratory on which to conduct what-if analyses and computational experiments for the design and validation of economic policies. In particular, the Eurace simulator was used to study the relationship between financial markets, the credit market and the economic cycle and for the design of economic, fiscal and monetary policies.  


  • Silvano Cincotti
  • Marco Raberto 


  • Ingegneria gestionale 


  • Petrović, M., Ozel, B., Teglio, A., Raberto, M., Cincotti, S., 2020 Should I stay or should I go? An agent-based setup for a trading and monetary union. Journal of Economic Dynamics and Control, 113, 103866.
  • Teglio, A., Mazzocchetti, A., Ponta, L., Raberto, M., Cincotti, S., 2019 Budgetary rigour with stimulus in lean times: Policy advices from an agent-based model. Journal of Economic Behavior and Organization,157, pp. 59-83
  • Ozel, B., Nathanael, R.C., Raberto, M., Teglio, A., Cincotti, S., 2019 Macroeconomic implications of mortgage loan requirements: an agent-based approach. Journal of Economic Interaction and Coordination, 14(1), pp. 7-46
  • Mazzocchetti, A., Raberto, M., Teglio, A., Cincotti, S. 2018 Securitization and business cycle: An agent-based perspective, Industrial and Corporate Change, 27(6), pp. 1091-1121
  • Cincotti S., Raberto M., Teglio A. Macroprudential policies in an agent-based artificial economy. 2012 Revue de l'OFCE 124(5), pp. 205-234 

Last update 19 January 2022