Author(s)

Elder Mauricio Silva¹, Guilherme Moura^1,2, Sergio Da Silva^1,2,3*

¹Department of Economics, Federal University of Santa Catarina, Florianopolis, Brazil.
¹Graduate Program in Economics, Federal University of Santa Catarina, Florianopolis, Brazil.
³Graduate Program in Economics, Federal University of Espirito Santo, Vitoria, Brazil.

We consider an interbank market and a central bank in an agent-based macroeconomic model with credit and capital to evaluate the effects of monetary policies—conventional and quantitative easing. We find quantitative easing outperforms Taylor’s rule-style policies in smoothing out the business cycle.

Agent-Based Macroeconomic Model, Monetary Policy, Financial Crises, Taylor’s Rule, Quantitative Easing, Business Cycles

Silva, E.M., Moura, G. and Da Silva, S. (2021) Monetary Policy Experiments in an Agent-Based Macroeconomic Model. Open Access Library Journal, 8, 1-14. doi: 10.4236/oalib.1107471.