A Sugarscape-style ABM of OTC government bond markets reports that market-maker diversity and lower costs increase simulated liquidity and stability, but the model is only validated against one calibrated aggregate statistic.
Using surrogate models to calibrate agent-based model parameters under data scarcity,
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Decoding OTC Government Bond Market Liquidity: An ABM Model for Market Dynamics
A Sugarscape-style ABM of OTC government bond markets reports that market-maker diversity and lower costs increase simulated liquidity and stability, but the model is only validated against one calibrated aggregate statistic.