This work aims to investigate the behavior of financial agents in a complex setting where they interact and learn about the environment. Using the bottom-up approach of agent-based models, we simulate a situation where banks, depositors, a central bank, firms, and a clearing house compose an artificial financial system under different scenarios regarding monetary and macroprudential policy instances and emerging and developed countries realities. Banks are able to learn from the outcomes and endogenously set the market interest rate. The main conclusions are: with regard to the credit market, (i) policies reinforce each other's effects on credit supply when they are both restrictive. Regarding banks' risk-taking behavior, (ii) expansive monetary policy increases banks' loans and portfolio risk. Finally, (iii) restrictive instances in both policies, while promoting more capital and less risk in the balance sheet, are able to reduce risk to some extent. If combined in the right way, these policies may improve overall system stability.
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Bank England, London, England
UCL, Dept Comp Sci, London, EnglandBank England, London, England
Bardoscia, Marco
Barucca, Paolo
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UCL, Dept Comp Sci, London, EnglandBank England, London, England
Barucca, Paolo
Battiston, Stefano
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Univ Zurich, Dept Banking & Finance, Zurich, Switzerland
Ca Foscari Univ Venice, Dept Econ, Venice, ItalyBank England, London, England
Battiston, Stefano
Caccioli, Fabio
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UCL, Dept Comp Sci, London, England
London Sch Econ & Polit Sci, System Risk Ctr, London, England
London Math Lab, London, EnglandBank England, London, England
Caccioli, Fabio
Cimini, Giulio
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Univ Roma Tor Vergata, Dept Phys, Rome, Italy
Univ Roma Tor Vergata, INFN, Rome, Italy
IMT Sch Adv Studies, Networks Unit, Lucca, Italy
CNR, Inst Complex Syst, Rome, ItalyBank England, London, England
Cimini, Giulio
Garlaschelli, Diego
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IMT Sch Adv Studies, Networks Unit, Lucca, Italy
Leiden Univ, Lorentz Inst Theoret Phys, Leiden, NetherlandsBank England, London, England
Garlaschelli, Diego
Saracco, Fabio
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IMT Sch Adv Studies, Networks Unit, Lucca, ItalyBank England, London, England
Saracco, Fabio
Squartini, Tiziano
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IMT Sch Adv Studies, Networks Unit, Lucca, ItalyBank England, London, England
Squartini, Tiziano
Caldarelli, Guido
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Ca Foscari Univ Venice, Dept Mol Sci & Nanosyst, Venice, Italy
Ca Foscari Univ Venice, European Ctr Living Technol, Venice, Italy
London Inst Math Sci, London, England
CNR, Unit Sapienza ISC, Rome, ItalyBank England, London, England
机构:
Bank England, London, England
UCL, Dept Comp Sci, London, EnglandBank England, London, England
Bardoscia, Marco
Barucca, Paolo
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机构:
UCL, Dept Comp Sci, London, EnglandBank England, London, England
Barucca, Paolo
Battiston, Stefano
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h-index: 0
机构:
Univ Zurich, Dept Banking & Finance, Zurich, Switzerland
Ca Foscari Univ Venice, Dept Econ, Venice, ItalyBank England, London, England
Battiston, Stefano
Caccioli, Fabio
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h-index: 0
机构:
UCL, Dept Comp Sci, London, England
London Sch Econ & Polit Sci, System Risk Ctr, London, England
London Math Lab, London, EnglandBank England, London, England
Caccioli, Fabio
Cimini, Giulio
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h-index: 0
机构:
Univ Roma Tor Vergata, Dept Phys, Rome, Italy
Univ Roma Tor Vergata, INFN, Rome, Italy
IMT Sch Adv Studies, Networks Unit, Lucca, Italy
CNR, Inst Complex Syst, Rome, ItalyBank England, London, England
Cimini, Giulio
Garlaschelli, Diego
论文数: 0引用数: 0
h-index: 0
机构:
IMT Sch Adv Studies, Networks Unit, Lucca, Italy
Leiden Univ, Lorentz Inst Theoret Phys, Leiden, NetherlandsBank England, London, England
Garlaschelli, Diego
Saracco, Fabio
论文数: 0引用数: 0
h-index: 0
机构:
IMT Sch Adv Studies, Networks Unit, Lucca, ItalyBank England, London, England
Saracco, Fabio
Squartini, Tiziano
论文数: 0引用数: 0
h-index: 0
机构:
IMT Sch Adv Studies, Networks Unit, Lucca, ItalyBank England, London, England
Squartini, Tiziano
Caldarelli, Guido
论文数: 0引用数: 0
h-index: 0
机构:
Ca Foscari Univ Venice, Dept Mol Sci & Nanosyst, Venice, Italy
Ca Foscari Univ Venice, European Ctr Living Technol, Venice, Italy
London Inst Math Sci, London, England
CNR, Unit Sapienza ISC, Rome, ItalyBank England, London, England