Johns Hopkins-led effort offers powerful new tool to aid health policy by integrating personal decision-making into disease ...

The macro economy, like the global climate, is a complex system (highly nonlinear and buffeted by random shocks) that defies attempts to model it and predict its future path. The challenge of ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...

Financial institutions are increasingly using economic capital models to help determine the amount of capital they need to absorb unexpected losses. These models typically aggregate capital based on ...