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Jahrbücher für Nationalökonomie und Statistik

Journal of Economics and Statistics

Editor-in-Chief: Winker, Peter

Ed. by Büttner, Thiess / Riphahn, Regina / Smolny, Werner / Wagner, Joachim

6 Issues per year

IMPACT FACTOR 2017: 0.456

CiteScore 2017: 0.47

SCImago Journal Rank (SJR) 2017: 0.231
Source Normalized Impact per Paper (SNIP) 2017: 0.606

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Volume 228, Issue 2-3


The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies

Frank H. Westerhoff
Published Online: 2016-03-16 | DOI: https://doi.org/10.1515/jbnst-2008-2-305


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

About the article

Published Online: 2016-03-16

Published in Print: 2008-04-01

Citation Information: Jahrbücher für Nationalökonomie und Statistik, Volume 228, Issue 2-3, Pages 195–227, ISSN (Online) 2366-049X, ISSN (Print) 0021-4027, DOI: https://doi.org/10.1515/jbnst-2008-2-305.

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© 2008 by Lucius & Lucius, Stuttgart.

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