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dc.contributor.authorRaberto, Marcoen
dc.contributor.authorTeglio, Andreaen
dc.contributor.authorCincotti, Silvanoen
dc.date.accessioned2012-06-26-
dc.date.accessioned2012-07-30T15:44:53Z-
dc.date.available2012-07-30T15:44:53Z-
dc.date.issued2012-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v6|h2012-27|nKiel Institute for the World Economy (IfW)|lKiel|y2012|p1-49en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2012-27en
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
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.stwAgentenbasierte Modellierungen
dc.subject.stwSimulationen
dc.subject.stwFinanzmarktkriseen
dc.subject.stwTheorieen
dc.titleDebt, deleveraging and business cycles: An agent-based perspective-
dc.typeArticleen
dc.identifier.ppn720189675en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:201227en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume6en
econstor.citation.issue2012-27en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2012en
econstor.citation.startpage1en
econstor.citation.endpage49en

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