Abstract and Keywords
The chapter reviews the literature concerning agent-based labor market models by tracing its roots to the microsimulation literature and surveying a selection of con- tributions made since the work by Bergmann and Eliasson et al. Agent-based models have been applied to explain stylized facts of labor markets as well as labor market policy evaluations. They also constitute a major part of agent-based macroeconomic models. Besides reviewing the various results achieved, the chapter discusses modeling choices with respect to agents' behavior and the structure of interaction. The overall assessment is that agent-based labor market models have given us valuable insights into the functioning of labor markets and the consequences of labor market policies, and that they will increasingly become an essential tool of analysis, in particular, when the construction of large macro-models is involved.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.