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dc.contributor.author
Noguera, Deborah Mercedes
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dc.contributor.author
Montes Rojas, Gabriel Victorio
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dc.date.available
2024-01-09T12:57:25Z
dc.date.issued
2023-02
dc.identifier.citation
Noguera, Deborah Mercedes; Montes Rojas, Gabriel Victorio; Minskyan model with credit rationing in a network economy; Springer; SN Business & Economics; 75; 3; 2-2023; 1-26
dc.identifier.issn
2662-9399
dc.identifier.uri
http://hdl.handle.net/11336/222977
dc.description.abstract
The global financial crisis of 2007/2008 has shown the importance of modeling economic agents not in isolation but as interconnected and interactive components of dynamically evolving systems. Within this framework, the field of complex systems for the study of economic dynamics has been the object of renewed interest. This paper is based on Minsky’s Financial Instability Hypothesis and on the literature of Agent-Based Models to analyze a bank credit market where heterogeneous firms and banks interact following game theory rules. The objective is twofold: (1) to evaluate the influence of bank behavior on the formation of the credit network and the spread of financial difficulties in an agent-based model; and, (2) to analyze the properties of the emerging credit network and its influence on macroeconomic performance. Our simulations suggest that aggregate economic instability may arise as a result of the liquidity preference behavior of banks that restrict credit to the productive sector when they have pessimistic expectations.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Springer
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dc.rights
info:eu-repo/semantics/restrictedAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
COMPUTATIONAL ECONOMICS
dc.subject
AGENT-BASED MODELS
dc.subject
FINANCIAL INSTABILITY AND FRAGILITY
dc.subject
CREDIT NETWORKS
dc.subject
BANKS BEHAVIOR
dc.subject.classification
Economía, Econometría
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dc.subject.classification
Economía y Negocios
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dc.subject.classification
CIENCIAS SOCIALES
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dc.title
Minskyan model with credit rationing in a network economy
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2024-01-08T14:20:07Z
dc.journal.volume
75
dc.journal.number
3
dc.journal.pagination
1-26
dc.journal.pais
Suiza
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dc.description.fil
Fil: Noguera, Deborah Mercedes. Universidad Nacional de La Plata; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
dc.description.fil
Fil: Montes Rojas, Gabriel Victorio. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Saavedra 15. Instituto Interdisciplinario de Economía Política de Buenos Aires. Universidad de Buenos Aires. Facultad de Ciencias Económicas. Instituto Interdisciplinario de Economía Política de Buenos Aires; Argentina
dc.journal.title
SN Business & Economics
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://link.springer.com/article/10.1007/s43546-023-00446-z#citeas
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/https://doi.org/10.1007/s43546-023-00446-z
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