Catullo, Ermanno; Gallegati, Mauro; Palestrini, Antonio - In: Journal of Economic Dynamics and Control 50 (2015) C, pp. 78-97
This paper presents an agent based model which underlines the importance of credit network and leverage dynamics in determining the resilience of the system, defining an early warning indicator for crises. The model reproduces macroeconomic dynamics emerging from the interactions of...