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首页> 外文期刊>Journal of Economic Dynamics and Control >Emergent dynamics of a macroeconomic agent based model with capital and credit
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Emergent dynamics of a macroeconomic agent based model with capital and credit

机译：具有资本和信贷的基于宏观经济主体的模型的动态

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摘要

In this paper we present and discuss a Macroeconomic Agent-Based Model with Capital and Credit (CC-MABM) which builds upon the framework put forward by Delli Gatti et al. (2011). The novelty of this model with respect to the previous framework consists in the introduction of a stylized supply chain where upstream firms - i.e. producers of capital goods (K-firms) - supply a durable and sticky input (capital) to the downstream firms, who produce consumption goods (C-firms) to be sold to households. Both C-firms and K-firms resort to bank loans to satisfy their financing needs. There are two-way feedbacks between firms and markets which yield interesting emerging properties at the macro level. We show that the interaction of upstream and downstream firms and the evolution of their financial conditions - in a nutshell: Capital and Credit - are essential ingredients of a "crisis" i.e. a sizable slump followed by a long recovery.
机译：在本文中，我们提出并讨论了基于Delli Gatti等人提出的框架的基于资本和信贷的基于宏观经济主体的模型（CC-MABM）。 （2011）。该模型相对于先前框架的新颖之处在于引入了程式化的供应链，其中上游企业（即资本货物的生产者（K公司））向下游企业提供了持久且粘性的输入（资本）。生产消费品（C公司）以出售给家庭。 C公司和K公司都依靠银行贷款来满足其融资需求。公司和市场之间存在双向反馈，这些反馈会在宏观层面产生有趣的新兴属性。简而言之，我们证明了上游和下游企业的互动以及其财务状况的演变-简而言之：资本和信贷-是“危机”（即大幅下滑，然后长期复苏）的基本要素。

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