The links between aggregate financial indicators and business fluctuations have been widely addressed in literature while the same interest has not been devoted to the role of microeconomic financial variables in determining macroeconomic results. One of the causes may be individuated in the...

Assessing systemic risk and defining macro-prudential policies aiming at reducing economic system vulnerability have been at the center of the economic debate of the last years. Credit networks play a crucial role in diffusing and amplifying local shocks, following the network-based financial...

An accommodating monetary policy followed by a sudden increase of the short term interest rate often leads to a bubble burst and to an economic slowdown. Two examples are the Great Depression of 1929 and the Great Recession of 2008. Through the implementation of an Agent Based Model with a...