Business fluctuations in a behavioral switching model: Gridlock effects and credit crunch phenomena in financial networks
comunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONMetadatos
Título
Business fluctuations in a behavioral switching model: Gridlock effects and credit crunch phenomena in financial networksFecha de publicación
2020-02-29Editor
ElsevierCita bibliográfica
GRILLI, Ruggero; TEDESCHI, Gabriele; GALLEGATI, Mauro. Business fluctuations in a behavioral switching model: gridlock effects and credit crunch phenomena in financial networks. Journal of Economic Dynamics and Control, 2020, 103863.Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://www.sciencedirect.com/science/article/pii/S0165188918303476Versión
info:eu-repo/semantics/submittedVersionPalabras clave / Materias
Resumen
In this paper we characterize the evolution over time of a credit network in the most general terms as a system of interacting banks and firms operating in a three-sector economy with goods, credit and interbank market. ... [+]
In this paper we characterize the evolution over time of a credit network in the most general terms as a system of interacting banks and firms operating in a three-sector economy with goods, credit and interbank market. Credit connections change over time via an evolving fitness measure depending from lenders’ supply of liquidity and borrowers’ demand of credit. Moreover, an endogenous learning mechanism allows agents to switch between a loyal or a shopping-around strategy according to their degree of satisfaction. The crucial question we investigate is how financial bubbles and credit-crunch phenomena emerge from the implemented mechanism. [-]
Derechos de acceso
© 2020 Elsevier B.V. All rights reserved.
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- ECO_Articles [692]