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A new firm-level model of corporate sector interactions and fragility: The Corporate Agent-Based (CAB) model

Robert Hillman, Sebastian Barnes, George Wharf and Duncan MacDonald

No 1675, OECD Economics Department Working Papers from OECD Publishing

Abstract: This paper develops a new large-scale firm-level simulation model, the Corporate Sector Agent-Based (CAB) Model, which is applied to analyse the COVID-19 shock and policy options in Barnes, Hillman, MacDonald and Wharf (2021). Agent-based models (ABMs) simulate the interaction of autonomous agents to generate emergent aggregate behaviours. The CAB model takes into account: heterogeneity across firms; a realistic customer-supplier network; interactions between firms; rule-of-thumb behaviour by firms and bankruptcy constraints.

Keywords: agent-based modelling; bankruptcy; Covid-19; credit guarantees; financial stability; firm dynamics; firm-level data; input-output analysis; network analysis; short-time working schemes (search for similar items in EconPapers)
JEL-codes: D21 D22 D57 D85 E27 G33 (search for similar items in EconPapers)
Date: 2021-07-13
New Economics Papers: this item is included in nep-bec, nep-cmp, nep-hme, nep-mac and nep-ore
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