We develop a microsimulation model for the macroeconomic business cycle. Our model is based on three main ideas i we want to specify how macroeconomic coordination is achieved without a dominating influence of price mechanisms, ii we want to incorporate the stock-flow-consistent approach that...

In the last two decades the Netherlands have experienced an increase in real-estate prices, accompanied by an increase in mortgages and a marked decline in household savings. As a consequence banks are faced with a large retail funding gap outstanding mortgage debt is insufficiently matched by...