Agent based models in macroeconomic: The Central Bank of the Republic of Turkey and the case of the European Central Bank

The practice of central banking, which was first implemented in Sweden in the 17th century, has become widespread throughout the world as of the 20th century. Central banks, which were established for different purposes such as supporting economic growth in the first stage, have operated to manage monetary policy and to ensure price stability as of the 20th century. The central bank established in the Ottoman Empire operated as a central bank until 1930 after the proclamation of the Republic of Turkey. With the law enacted in 1930, the Central Bank of the Republic of Turkey was established and still continues its activities today. With the application of agent-based modeling, it is aimed to evaluate simulative responses and interactions for any subject, and can be used in all scopes in monetary policy and economic field. In this context, independent auditors and audit firms audit the central banks. Within the scope of the study, the auditors of the European Central Bank and the Central Bank of the Republic of Turkey and their audit methods are evaluated.