FINANCIAL FRAGILITY, INDUSTRIAL DYNAMICS, AND BUSINESS FLUCTUATIONS IN AN AGENT-BASED MODEL

Domenico Delli Gatti, Corrado Di Guilmi, Mauro Gallegati and Gianfranco Giulioni ()

Macroeconomic Dynamics, 2007, vol. 11, issue S1, 62-79

Abstract: In this paper we present and discuss a simple financial accelerator agent-based model, whose conceptual core is the interaction of heterogeneous firms and the banking system. Its simplicity notwithstanding, the model is able to replicate through simulations a large number of stylized facts concerning the shape and evolution over time of the distribution of firms' sizes, growth rates, profits, and “bad debt.”

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:cup:macdyn:v:11:y:2007:i:s1:p:62-79_06

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