In this paper, relying on a time-varying parameters FAVAR model, two credit supply factors are calculated, the first of which is identified as willingness to lend, while the second as lending capacity. The impact of these two types of credit supply shocks on macroeconomic variables and their...

In this paper, we have developed an agent-based Keynesian macro model that features a detailed representation of a banking system, besides households and firms, and in which fiscal, monetary and macroprudential policy regulators also operate. The banking system generates longer credit cycles on...

This paper presents a complex, modular, 1:1 scale model of the Hungarian residential housing market. All the 4 million house‐ holds and their relevant characteristics are represented based on empirical micro‐level data coming from the Central Credit Information System, the Pension Payment...