Riccetti, Luca; Russo, Alberto; Gallegati, Mauro - Volkswirtschaftliche Fakultät, … - 2015
In this paper we build an agent-based model based on a threefold financial accelerator: (i) leverage accelerator - negative shocks on firms' output make banks less willing to loan funds, and firms less willing to make investments, hence a credit reduction follows further reducing the output;...