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dc.contributor.authorRaberto, Marcoen
dc.contributor.authorTeglio, Andreaen
dc.contributor.authorCincotti, Silvanoen
dc.date.accessioned2011-08-18-
dc.date.accessioned2011-08-18T15:16:04Z-
dc.date.available2011-08-18T15:16:04Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aEconomics Discussion Papers |x2011-31en
dc.subject.jelE2en
dc.subject.jelE3en
dc.subject.jelE44en
dc.subject.jelE51en
dc.subject.ddc330en
dc.subject.keywordAgent-based computational economicsen
dc.subject.keyworddebten
dc.subject.keywordleverageen
dc.subject.keywordcredit moneyen
dc.subject.keywordeconomic crisisen
dc.subject.stwSchuldenen
dc.subject.stwKreditgeschäften
dc.subject.stwMakroökonomischer Einflussen
dc.subject.stwKonjunkturen
dc.subject.stwKapitalstrukturen
dc.subject.stwAgent-based Modelen
dc.subject.stwSimulationen
dc.subject.stwFinanzmarktkriseen
dc.subject.stwTheorieen
dc.titleDebt deleveraging and business cycles: An agent-based perspective-
dc.typeWorking Paperen
dc.identifier.ppn666337837en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifwedp:201131en

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