We introduce a financially constrained production framework in which heterogeneous firms and banks entertain multiple credit connections. The parameters of credit market interaction are estimated from real data in order to reproduce a set of empirical regularities of the Japanese credit market....

In this paper, we present a first modelization of Allen's argument on the British Industrial Revolution with a History-Friendly Model heuristic. To do so, we use a macroeconomic micro-founded framework with heterogeneous agents – households, firms, and institutions – interacting through a...