Increasing Inequality and Financial Fragility in an 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.

MoreLess

Year of publication:	2013-06
Authors:	Russo, Alberto ; Riccetti, Luca ; Gallegati, Mauro

More details

Type of publication:	Book / Working Paper
Language:	English
Notes:	Russo, Alberto and Riccetti, Luca and Gallegati, Mauro (2013): Increasing Inequality and Financial Fragility in an An Agent Based Macroeconomic Model.
Classification:	C63 - Computational Techniques ; D31 - Personal Income, Wealth and Their Distributions ; E21 - Consumption; Saving ; E32 - Business Fluctuations; Cycles
Source:	BASE

Persistent link: https://www.econbiz.de/10015239688