The missing link: AB models and dynamic microsimulation

Abstract

In this note I pay tribute to two early works by Barbara Bergmann and Gunnar Eliasson which, though firmly grounded in the dynamic microsimulation literature, can be considered as the first examples of large-scale agent-basedmodels. These attempts at building complete micro-to-macro computational models of the economy are important not only in a history of economic thought perspective, but also to encourage convergence of the two approaches in developing credible alternatives to DSGE models.