Cars Hommes co-author of prize winning paper
Cars Hommes
Cars Hommes (full professor at UvA) is co-author of the prize winning paper in the paper competition that was set up by the Rebuilding Macroeconomics research initiative. In their paper "Economic Forecasting with an Agent-based Model", Sebastian Poledna, Michael Gregor Miess and Cars Hommes present the first agent-based model (ABM) that can compete with benchmark VAR and DSGE models in out-of-sample forecasting of macro variables. Potential applications of the model include stress-testing and predicting the effects of changes in monetary, fiscal, or other macroeconomic policies. "Rebuilding Macroeconomics" (RM) is a research initiative funded by the UK’s Economic and Social Research Council and was founded in 2017. RM is hosted by the Institute for Global Prosperity, University College London.