Topic: International Trade as a Complex Adaptive System with an Agent-Based Computational Economics Approach
Speaker: Anadin Tokmic
Abstract: The United States’ trade deficit has been rapidly growing since the beginning of the 21st century. Currently, 37% of this deficit is attributed to the trade behavior with China alone. The aim of this presentation is to (a) provide an overview of current macroeconomic models used to study international trade, (b) discuss the benefits of following an Agent-Based Computational Economics (ACE) framework to model international trade, and (c) use the ACE approach to help with developing trade policies that would lead to lower trade deficits.