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dc.contributor.authorRaberto, Marcoen_US
dc.contributor.authorTeglio, Andreaen_US
dc.contributor.authorCincotti, Silvanoen_US
dc.date.accessioned2011-08-18en_US
dc.date.accessioned2011-08-18T15:16:04Z-
dc.date.available2011-08-18T15:16:04Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/48830-
dc.description.abstractThe recent financial crises pointed out the central role of public and private debt in modern economies. However, even if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the issues of borrowing and debt load by means of computational experiments, performed in the environment of the agent-based Eurace simulator. We aim to shed some light on the relation between debt and the main economic indicators. Our results clearly confirm that the amount of credit money in the economy is a very important variable, that can affect economic performance in a twofold way: fostering growth or pushing the economy into recession or crisis. The outcomes of our experiments show a rich scenario of interactions between real and financial variables in the economy, and therefore represents a truly innovative tool for the study of economics.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesEconomics Discussion Papers 2011-31en_US
dc.subject.jelE2en_US
dc.subject.jelE3en_US
dc.subject.jelE44en_US
dc.subject.jelE51en_US
dc.subject.ddc330en_US
dc.subject.keywordAgent-based computational economicsen_US
dc.subject.keyworddebten_US
dc.subject.keywordleverageen_US
dc.subject.keywordcredit moneyen_US
dc.subject.keywordeconomic crisisen_US
dc.subject.stwSchuldenen_US
dc.subject.stwKreditgeschäften_US
dc.subject.stwMakroökonomischer Einflussen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwKapitalstrukturen_US
dc.subject.stwAgent-based Modelen_US
dc.subject.stwSimulationen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwTheorieen_US
dc.titleDebt deleveraging and business cycles: An agent-based perspectiveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn666337837en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifwedp:201131-
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