Workshop on Heterogeneous Agents Models: A Toolkit for Central Banks

The Workshop on Heterogeneous Agents Models: A Toolkit for Central Banks was jointly organized by the Center for Latin American Monetary Studies (CEMLA) and Banco Central de Chile in Santiago, Chile, on July 10, 2025. It was attended by 44 representatives from 18 institutions and CEMLA associates.

The workshop provided a comprehensive introduction to Heterogeneous Agents Models (HAM), emphasizing the critical role of heterogeneity in macroeconomic analysis, with focus on AI-powered approaches for tackling complex modeling challenges. The discussions also covered practical applications of Heterogeneous Agent New Keynesian (HANK) models at central banks, with particular attention to incorporating informality and unemployment dynamics. The workshop concluded with a policy implementation panel that examined practical applications of HAM for central bank policymakers, discussing current uses and future implementation strategies.

The agenda featured a keynote presentation by Christopher Carroll, Professor at Johns Hopkins University, titled "Introduction to Heterogeneous Agents Models".