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dc.contributor.authorRaberto, Marcoen_US
dc.contributor.authorTeglio, Andreaen_US
dc.contributor.authorCincotti, Silvanoen_US
dc.date.accessioned2012-06-26en_US
dc.date.accessioned2012-07-30T15:44:53Z-
dc.date.available2012-07-30T15:44:53Z-
dc.date.issued2012en_US
dc.identifier.citationEconomics: The Open-Access, Open-Assessment E-Journal 6 2012-27 1-49en_US
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2012-27en_US
dc.identifier.urihttp://hdl.handle.net/10419/60227-
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 modeling does not take into account debt as one of the crucial determinants of economic dynamics. The authors' 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. The authors aim to shed some light on the relation between debt and main economic indicators. Their results clearly confirm that the amount of credit in the economy is a very important variable, which can affect economic performance in a twofold way: fostering growth or pushing the economy into recession or crisis. The outcomes of their computational experiments show a rich scenario of interactions between real and financial variables in the economy, and therefore represent 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.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.stwAgentenbasierte Modellierungen_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.typeArticleen_US
dc.identifier.ppn720189675en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen_US
dc.identifier.repecRePEc:zbw:ifweej:201227-
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