Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/67493 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2012-61
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
The authors pick up the standard textbook approach of money creation and develop a simple agent-based alternative. They show that their model is well suited to explain the endogenous creation of money. Although more general, their model still contains the standard results as a limiting case. The authors also uncover a potential instability that is hidden in the standard approach but easily recognized within a strict individual-based and stock-flow consistent version. They show in detail how individual interactions build up systemic risk and how banking crises are triggered by the maturity mismatch of different cash-flows and spread by the depreciation of non-performing loans (e.g. interbank or government debt).
Schlagwörter: 
financial instability
endogenous money
agent-based macroeconomics
stock-flow consistency
disequilibrium analysis
JEL: 
E42
E51
C63
G01
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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