Increasing Inequality and Financial Fragility in an Agent Based Macroeconomic Model

The aim of this paper is to investigate the relationship between increasing inequality and financial fragility in an agent based macroeconomic model. We analyse the effects of a non-linear relationship between wealth and consumption on the evolution of the economic system. Preliminary results show that more inequality rises macroeconomic volatility, increasing the likelihood of observing large unemployment crises

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Year of publication:	2013
Authors:	Russo, Alberto
Other Persons:	Riccetti, Luca (contributor) ; Gallegati, Mauro (contributor)
Publisher:	[2013]: [S.l.] : SSRN
Subject:	Theorie \| Theory \| Agentenbasierte Modellierung \| Agent-based modeling \| Einkommensverteilung \| Income distribution \| Finanzkrise \| Financial crisis \| Finanzmarkt \| Financial market \| Makroökonomik \| Macroeconomics

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