• openAccess   Housing Market Bubbles and Business Cycles in an Agent-Based Credit Economy 

      Erlingsson, Einar Jón; Cincotti, Silvano; Stefánsson, Hlynur; Sturluson, Jon Thor; Teglio, Andrea; Raberto, Marco Dennis J. Snower (2013)
      In this paper the authors present an agent-based model of a credit network economy. The artificial economy includes different economic agents that interact using simple behavioral rules through various markets, i.e., the ...
    • openAccess   The Real Versus the Financial Economy: A Global Tale of Stability Versus Volatility 

      Mundt, Philipp; Förster, Niels; Alfarano, Simone; Milakovic, Mishael Dennis J. Snower (2014)
      The question how the real and the financial side of a capitalist economy relate to each other has been a frequently recurring topic in the history of economic thought. Our paper addresses this question from the viewpoint ...