such as endogenous business cycles, nominal GDP growth, unemployment rate fluctuations, the Phillips curve, leverage cycles …

This paper presents an agent based model which underlines the importance of credit network and leverage dynamics in … linked through multiple credit relations, which derive from individual target leverage choices: agents choose the more … convenient leverage level, according to a basic reinforcement learning algorithm. Simulations are calibrated on balance sheet …

of Riccetti et al. (2011), where two kinds of financial accelerators are at work: the “leverage accelerator” and the …