| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17102 |
| 来源ID | Working Paper 17102 |
| Banks, Market Organization, and Macroeconomic Performance: An Agent-Based Computational Analysis | |
| Quamrul Ashraf; Boris Gershman; Peter Howitt | |
| 发表日期 | 2011-06-02 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper is an exploratory analysis of the role that banks play in supporting the mechanism of exchange. It considers a model economy in which exchange activities are facilitated and coordinated by a self-organizing network of entrepreneurial trading firms. Collectively, these firms play the part of the Walrasian auctioneer, matching buyers with sellers and helping the economy to approximate equilibrium prices that no individual is able to calculate. Banks affect macroeconomic performance in this economy because their lending activities facilitate entry of trading firms and also influence their exit decisions. Both entry and exit have conflicting effects on performance, and we resort to computational analysis to understand how they are resolved. Our analysis sheds new light on the conflict between micro-prudential bank regulation and macroeconomic stability. Specifically, it draws an important distinction between "normal" performance of the economy and "worst-case" scenarios, and shows that micro prudence conflicts with macro stability only in bad times. The analysis also shows that banks provide a "financial stabilizer" that in some respects can more than counteract the more familiar financial accelerator. |
| 主题 | Microeconomics ; Mathematical Tools ; Macroeconomics ; Money and Interest Rates ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w17102 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574777 |
| 推荐引用方式 GB/T 7714 | Quamrul Ashraf,Boris Gershman,Peter Howitt. Banks, Market Organization, and Macroeconomic Performance: An Agent-Based Computational Analysis. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17102.pdf（607KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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