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Dysfonctionnement bancaire, bulle du crédit et instabilité macroéconomique dans une économie monétaire dynamique et complexe

Pascal Seppecher ()

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Abstract: We present a model of a complex, dynamic economy wherein money creation and destruction result from interactions between many heterogeneous agents. This model can occur repeatedly, thereby stabilizing income distribution between wages and profits. We then modify the model by introducing an unprofitable firm to which the banking system continuously lends. Increasing risk in the banking system, beyond what is allowed by its own funds, reflects a growing disjunction between the real and monetary spheres. The credit-bubble feeds demand and economic activity and evidence of overheating increases. The profit share rises and the macroeconomic stability of the model is affected.

Keywords: Monnaie endogène; Agents hétérogènes; Répartition du revenu (search for similar items in EconPapers)
Date: 2010
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Published in Revue Economique, Presses de Sciences Po, 2010, 61 (3), pp.441-449. ⟨10.3917/reco.613.0441⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00696783

DOI: 10.3917/reco.613.0441

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