Artikel
Unemployment benefits and financial leverage in an agent based macroeconomic model
This paper is aimed at investigating the effects of government intervention through unemployment benefits on macroeconomic dynamics in an agent based decentralized matching framework. The major result is that the presence of such a public intervention in the economy stabilizes the aggregate demand and the financial conditions of the system at the cost of a modest increase of both the inflation rate and the ratio between public deficit and nominal GDP. The successful action of the public sector is sustained by the central bank which is committed to buy outstanding government securities.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Economics: The Open-Access, Open-Assessment E-Journal ; ISSN: 1864-6042 ; Volume: 7 ; Year: 2013 ; Issue: 2013-42 ; Pages: 1-44 ; Kiel: Kiel Institute for the World Economy (IfW)
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Computational Techniques; Simulation Modeling
- Thema
-
Agent based macroeconomics
business cycle
crisis
unemployment
leverage
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ricetti, Luca
Russo, Alberto
Gallegati, Mauro
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2013
- DOI
-
doi:10.5018/economics-ejournal.ja.2013-42
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Ricetti, Luca
- Russo, Alberto
- Gallegati, Mauro
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2013
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