4 Dokumente gefunden
The interaction between monetary and macroprudential policy: should central banks ‘lean against the wind’ to foster macro-financial…
The extensive harm caused by the financial crisis raises the question of whether policymakers could have done more to prevent the build-up of financial imbalances. This paper aims to contribute to the field of regulatory impact assessment by taking up the revived debate on whether central banks should…
Banking, Shadow Banking, and Financial Regulation : An Agent-based Approach
The field of “macro-finance”, i.e. the intersection of financial economics and macroeconomics, received much attention [Morley (2015)] through the integration of banking, corporate finance and financial markets into macroeconomic models using various methodologies. Although standard (equilibrium) macro-models…
Money Creation and Financial Instability: An Agent-Based Credit Network Approach
The authors develop a simple agent-based and stock flow consistent model of a monetary economy. Their model is well suited to explain money creation along the lines of mainstream theory. Additionally it uncovers a potential instability that follows from a maturity mismatch of assets and liabilities.…
Coccolithophores in an Acidifying Ocean : from Single Strain to Multiple Species Approaches
The human induced global climate change has severe consequences for the marine systems. Oceans have absorbed 50% of anthropogenic carbon dioxide emissions, consequently, attenuating global atmospheric warming. However, once entering the oceans, CO2 loses its inert characteristics. By the reaction with…