@article{Cottin-Euziol2016a,
abstract = {This paper studies the effects of firms' indebtedness on the dynamics of a monetary production economy. Starting from the work of Minsky and Palley, we build a stock-flow consistent agent-based model that emphasizes the effects of firms' debt on macro dynamics and produce endogenous business cycles. We identify two ambiguous effects of debt: a aggregate demand increasing effect and a functional income distribution effect and describe their consequences during the different phases of the cycle. These effects are isolated in this study but are compatible with the existing literature.},
author = {Cottin-Euziol, Edouard and Botte, Florian},
doi = {10.13140/RG.2.2.23744.53765},
journal = {Working Paper hal-01363313},
keywords = {DOLFINS{\_}T1.3,DOLFINS{\_}T2.4,DOLFINS{\_}WP1,DOLFINS{\_}WP2,DOLFINS{\_}working{\_}paper},
mendeley-tags = {DOLFINS{\_}T1.3,DOLFINS{\_}T2.4,DOLFINS{\_}WP1,DOLFINS{\_}WP2,DOLFINS{\_}working{\_}paper},
number = {October},
title = {{Debt-Driven Business Cycles in a Stock-Flow Consistent Agent-Based Model}},
url = {https://hal.archives-ouvertes.fr/hal-01363313/},
year = {2016}
}

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