Credit Rationing in a Basic Agent-Based Model
A simple agent-based model of business units lending money to one another is sufficient to understand on what conditions avalanches of bankruptcies may arise. The model highlights the consequences of specialisation into money lending as well as the impact of preferential lending relations.
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- Serena Sordi & Alessandro Vercelli, 2003.
"Financial Fragility and Economic Fluctuations: Numerical Simulations and Policy Implications,"
Department of Economics University of Siena
407, Department of Economics, University of Siena.
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- Nigel Gilbert & Pietro Terna, 2000. "How to build and use agent-based models in social science," Mind and Society: Cognitive Studies in Economics and Social Sciences, Fondazione Rosselli, vol. 1(1), pages 57-72, March.
- Martin Shubik, 2001.
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Cowles Foundation Discussion Papers
1343, Cowles Foundation for Research in Economics, Yale University.
- Iori, Giulia, 2004. "An analysis of systemic risk in alternative securities settlement architectures," Working Paper Series 0404, European Central Bank.
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