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The current economic crisis offers an historic opportunity for change. The depth of the crisis means there will likely … intellectual change is attitudes toward financial regulation. These obstacles will mute the policy response to the crisis, and if a … deep crisis is averted will tend to encourage a return of the existing policies that have failed so disastrously. …
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Building on the framework put forward by Delli Gatti et al. 2011, in this paper we present and discuss a Macroeconomic Agent-Based Model with Capital and Credit (hereafter CC-MABM). The novelty of this model with respect to the previous framework consists in the introduction of capital goods...
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