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We explore the interaction of monetary and macroprudential policy in a simple agent-based model of the housing market. Our model shows that the impact of monetary policy on housing market dynamics is smaller than the impact of macroprudential regulation. While both maximum loan-to-value ratios...
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micro empirical regularities, including stylised facts concerning financial dynamics and banking crises. Simulation results …
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We study how income inequality affects monetary policy through the inequality-household debt channel. We design a minimal macro Agent-Based model that replicates several stylized facts, including two novel ones: falling aggregate saving rate and decreasing bankruptcies during the household's...
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The paper exploits a simulation environment and its output indicators to compare the performance of "ex-ante" policy … instruments against a no-policy baseline. The multiple simulation results include indicators for distinct instruments, cities, and …
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