Minskyan model with credit rationing in a network economy
- Autores
- Noguera, Deborah; Montes-Rojas, Gabriel
- Año de publicación
- 2023
- Idioma
- inglés
- Tipo de recurso
- artículo
- Estado
- versión publicada
- Descripción
- The global financial crisis of 2007/2008 has shown the importance of modeling economic agents not in isolation but as interconnected and interactive components of dynamically evolving systems. Within this framework, the field of complex systems for the study of economic dynamics has been the object of renewed interest. This paper is based on Minsky's Financial Instability Hypothesis and on the literature of Agent-Based Models to analyze a bank credit market where heterogeneous firms and banks interact following game theory rules. The objective is twofold: (1) to evaluate the influence of bank behavior on the formation of the credit network and the spread of financial difficulties in an agent-based model; and, (2) to analyze the properties of the emerging credit network and its influence on macroeconomic performance. Our simulations suggest that aggregate economic instability may arise as a result of the liquidity preference behavior of banks that restrict credit to the productive sector when they have pessimistic expectations.
Fil: Noguera, Deborah. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación. Instituto de Investigaciones en Humanidades y Ciencias Sociales (UNLP-CONICET); Argentina. - Fuente
- SN Business & Economics, 3(75). (2023)
ISSN 2662-9399 - Materia
-
Economía
Computational economics
Agent-based models
Financial instability and fragility
Credit networks
Banks behavior - Nivel de accesibilidad
- acceso abierto
- Condiciones de uso
- https://creativecommons.org/licenses/by-nc-sa/4.0/
- Repositorio
- Institución
- Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación
- OAI Identificador
- oai:memoria.fahce.unlp.edu.ar:snrd:Jpr15581
Ver los metadatos del registro completo
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Minskyan model with credit rationing in a network economyNoguera, DeborahMontes-Rojas, GabrielEconomíaComputational economicsAgent-based modelsFinancial instability and fragilityCredit networksBanks behaviorThe global financial crisis of 2007/2008 has shown the importance of modeling economic agents not in isolation but as interconnected and interactive components of dynamically evolving systems. Within this framework, the field of complex systems for the study of economic dynamics has been the object of renewed interest. This paper is based on Minsky's Financial Instability Hypothesis and on the literature of Agent-Based Models to analyze a bank credit market where heterogeneous firms and banks interact following game theory rules. The objective is twofold: (1) to evaluate the influence of bank behavior on the formation of the credit network and the spread of financial difficulties in an agent-based model; and, (2) to analyze the properties of the emerging credit network and its influence on macroeconomic performance. Our simulations suggest that aggregate economic instability may arise as a result of the liquidity preference behavior of banks that restrict credit to the productive sector when they have pessimistic expectations.Fil: Noguera, Deborah. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación. Instituto de Investigaciones en Humanidades y Ciencias Sociales (UNLP-CONICET); Argentina.2023info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfhttps://www.memoria.fahce.unlp.edu.ar/art_revistas/pr.15581/pr.15581.pdfSN Business & Economics, 3(75). (2023)ISSN 2662-9399reponame:Memoria Académica (UNLP-FAHCE)instname:Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educacióninstacron:UNLPenginfo:eu-repo/semantics/altIdentifier/doi/10.1007/s43546-023-00446-zinfo:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/4.0/2025-09-29T11:55:00Zoai:memoria.fahce.unlp.edu.ar:snrd:Jpr15581Institucionalhttps://www.memoria.fahce.unlp.edu.ar/Universidad públicahttps://www.fahce.unlp.edu.ar/https://www.memoria.fahce.unlp.edu.ar/oaiserver.cgimemoria@fahce.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13412025-09-29 11:55:01.302Memoria Académica (UNLP-FAHCE) - Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educaciónfalse |
dc.title.none.fl_str_mv |
Minskyan model with credit rationing in a network economy |
title |
Minskyan model with credit rationing in a network economy |
spellingShingle |
Minskyan model with credit rationing in a network economy Noguera, Deborah Economía Computational economics Agent-based models Financial instability and fragility Credit networks Banks behavior |
title_short |
Minskyan model with credit rationing in a network economy |
title_full |
Minskyan model with credit rationing in a network economy |
title_fullStr |
Minskyan model with credit rationing in a network economy |
title_full_unstemmed |
Minskyan model with credit rationing in a network economy |
title_sort |
Minskyan model with credit rationing in a network economy |
dc.creator.none.fl_str_mv |
Noguera, Deborah Montes-Rojas, Gabriel |
author |
Noguera, Deborah |
author_facet |
Noguera, Deborah Montes-Rojas, Gabriel |
author_role |
author |
author2 |
Montes-Rojas, Gabriel |
author2_role |
author |
dc.subject.none.fl_str_mv |
Economía Computational economics Agent-based models Financial instability and fragility Credit networks Banks behavior |
topic |
Economía Computational economics Agent-based models Financial instability and fragility Credit networks Banks behavior |
dc.description.none.fl_txt_mv |
The global financial crisis of 2007/2008 has shown the importance of modeling economic agents not in isolation but as interconnected and interactive components of dynamically evolving systems. Within this framework, the field of complex systems for the study of economic dynamics has been the object of renewed interest. This paper is based on Minsky's Financial Instability Hypothesis and on the literature of Agent-Based Models to analyze a bank credit market where heterogeneous firms and banks interact following game theory rules. The objective is twofold: (1) to evaluate the influence of bank behavior on the formation of the credit network and the spread of financial difficulties in an agent-based model; and, (2) to analyze the properties of the emerging credit network and its influence on macroeconomic performance. Our simulations suggest that aggregate economic instability may arise as a result of the liquidity preference behavior of banks that restrict credit to the productive sector when they have pessimistic expectations. Fil: Noguera, Deborah. Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación. Instituto de Investigaciones en Humanidades y Ciencias Sociales (UNLP-CONICET); Argentina. |
description |
The global financial crisis of 2007/2008 has shown the importance of modeling economic agents not in isolation but as interconnected and interactive components of dynamically evolving systems. Within this framework, the field of complex systems for the study of economic dynamics has been the object of renewed interest. This paper is based on Minsky's Financial Instability Hypothesis and on the literature of Agent-Based Models to analyze a bank credit market where heterogeneous firms and banks interact following game theory rules. The objective is twofold: (1) to evaluate the influence of bank behavior on the formation of the credit network and the spread of financial difficulties in an agent-based model; and, (2) to analyze the properties of the emerging credit network and its influence on macroeconomic performance. Our simulations suggest that aggregate economic instability may arise as a result of the liquidity preference behavior of banks that restrict credit to the productive sector when they have pessimistic expectations. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023 |
dc.type.none.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion http://purl.org/coar/resource_type/c_6501 info:ar-repo/semantics/articulo |
format |
article |
status_str |
publishedVersion |
dc.identifier.none.fl_str_mv |
https://www.memoria.fahce.unlp.edu.ar/art_revistas/pr.15581/pr.15581.pdf |
url |
https://www.memoria.fahce.unlp.edu.ar/art_revistas/pr.15581/pr.15581.pdf |
dc.language.none.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
info:eu-repo/semantics/altIdentifier/doi/10.1007/s43546-023-00446-z |
dc.rights.none.fl_str_mv |
info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-nc-sa/4.0/ |
eu_rights_str_mv |
openAccess |
rights_invalid_str_mv |
https://creativecommons.org/licenses/by-nc-sa/4.0/ |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
SN Business & Economics, 3(75). (2023) ISSN 2662-9399 reponame:Memoria Académica (UNLP-FAHCE) instname:Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación instacron:UNLP |
reponame_str |
Memoria Académica (UNLP-FAHCE) |
collection |
Memoria Académica (UNLP-FAHCE) |
instname_str |
Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación |
instacron_str |
UNLP |
institution |
UNLP |
repository.name.fl_str_mv |
Memoria Académica (UNLP-FAHCE) - Universidad Nacional de La Plata. Facultad de Humanidades y Ciencias de la Educación |
repository.mail.fl_str_mv |
memoria@fahce.unlp.edu.ar |
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1844616499567788033 |
score |
13.070432 |