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Financial Development, Market Deregulation and Growth: Evidence from China

Liang, Zhicheng - In: Journal of Chinese Economic and Business Studies 3 (2005) 3, pp. 247-262

In this paper, the relationship between finance and growth is analysed in the context of an endogenous growth model with government regulation and intervention. Our theoretical model suggests that financial intermediaries can affect the process of economic growth in several ways. Using the...

Persistent link: https://www.econbiz.de/10005633041

Income inequality and private bank credit in developed economies

Kvedaras, Virmantas - 2017

the European Union member states that have large penetration of bank credit. Building on the model of financially open … increase in private bank credit relative to the gross domestic product (GDP) and the gap between real interest rate and GDP …

Persistent link: https://www.econbiz.de/10012054552

Social institutions and economic inequality : modeling the onset of the Kuznets curve

Alvarez-Pereira, Brais; Bale, Catherine S. E.; Furtado, … - 2015

Theoretical models of the Kuznets Curve have been purely analytical with little contribution towards an understanding of the timing of the process and the presence of additional mechanisms affecting its timing. This paper proposes an agent-based version of Acemoglu and Robinson's model of the...

Persistent link: https://www.econbiz.de/10012057437

The impact of deunionization on the growth and dispersion of productivity and pay

Dosi, Giovanni; Freeman, Richard B.; Pereira, Marcelo C.; … - 2020

This paper presents an Agent-Based Model (ABM) that seeks to explain the concordance of sluggish growth of productivity and of real wages found in macro-economic statistics, and the increased dispersion of firm productivity and worker earnings found in micro level statistics in advanced...

Persistent link: https://www.econbiz.de/10012159982

Credit and saving constraints in general equilibrium : evidence from survey data

Granda Carvajal, Catalina; Hamann S., Franz A.; Tamayo, … - 2017

with credit constraints. Saving constraints in the form of fixed costs to use the financial system lead households to seek … informal saving instruments (cash) and result in lower aggregate saving. Credit constraints induce misallocation of capital … model using survey data from a developing country where informal saving and credit constraints are pervasive. Our …

Persistent link: https://www.econbiz.de/10011656466

Policy experiments in an agent-based model with credit networks

Assenza, Tiziana; Cardaci, Alberto; Delli Gatti, Domenico; … - 2017

In this paper the authors build upon Assenza et al. (Credit networks in the macroeconomics from the bottom-up model …

Persistent link: https://www.econbiz.de/10011723851

Policy experiments in an agent-based model with credit networks

Assenza, Tiziana; Cardaci, Alberto; Delli Gatti, Domenico; … - 2018

In this paper the authors extend the macroeconomic agent-based model described in Delli Gatti, D., Desiderio, S., Gaffeo, E., Cirillo, P. and Gallegati, M. (Macroeconomics from the bottom-up, 2011) with the inclusion of a bank-bank network that mimics real-world dynamics of interbank markets....

Persistent link: https://www.econbiz.de/10011880809

Fiscal and monetary policies in complex evolving economies

Dosi, Giovanni; Fagiolo, Giorgio; Napoletano, Mauro; … - 2014

In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes. In particular, we aim at evaluating fiscal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model populated...

Persistent link: https://www.econbiz.de/10011335917

Micro and macro policies in the Keynes+Schumpeter evolutionary models

Dosi, Giovanni; Napoletano, Mauro; Roventini, Andrea; … - 2014

Minskian (credit cycle) elements feed back into the meso and macro dynamics. The model is able to endogenously generate long …

Persistent link: https://www.econbiz.de/10011335925

The short- and long-run damages of fiscal austerity: Keynes beyond Schumpeter

Dosi, Giovanni; Napoletano, Andrea; Roventini, Andrea; … - 2014

In this work we analyze the short- and long-run effects of fiscal austerity policies, employing an agent-based model populated by heterogeneous, boundedly-rational firms and banks. The model, in line with the family of "Keynes+Schumpeter" formalism, is able to account for a wide array of macro...

Persistent link: https://www.econbiz.de/10011335928