WP1 Database construction

A comprehensive database will be needed in order to calibrate, initialize and test the models. It will contain standard aggregate economic indicators such as GDP and unemployment as well as fine-grained microeconomic data about EU households, firms, and financial institutions.

It will need to combine data that have already been collected with a substantial new amount of data from EU member states and from academic and private sources in a consistent way.

Challenges include: overcoming differences in methodologies and definitions; and EU legal limits on access to microdata on households and firms. The workplan includes phases for assessing needs, creating inventories of sources, designing data architecture to ensure these issues are considered up-front, and developing a realistic detailed scope.

Key objectives

  • To define that key relationships that will be needed to construct the agent-based models developed in WP2  and WP3  and for the general ABM to be built in WP8.
  • To ensure the models match either the current state of the EU economy, or an historical state (e.g. 2006 just before the crisis).
  • To test the performance of the models versus historical data.
  • To enable the models to respond realistically when played in game mode

Deliverables

  • D1.1 – Data needs assessment and inventory report
  • D1.2 – Database architecture and software. Work-plan for programming, populating, testing, and linking
  • D1.3 – Populated dataset, clean and initial tests complete
  • D1.4 – Integrated dataset, complete, tested database
  • D1.5 – Database linked and tested with model/game, providing full functionality