Resumen

STELLIAN, Rémi; DANNA-BUITRAGO, Jenny Paola  y  LONDONO BEDOYA, David Andrés. A company’s financial fragility and income expectations: evidence from a multi-agent model. Cuad. Econ. [online]. 2018, vol.37, n.73, pp.225-254. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v37n73.58910.

This paper aims to link the financial fragility of non-financial firms to the way they expect proceeds from their sales: this is then represented in an agent-based macro-economic model. Using Schumpeter’s monetary analysis, the model is based upon the payment and debt network between agents as well as the resulting net cash balances. As part of the model’s artificial economy, firms suffer financial fragility in relation with the credits granted by a single bank. They then use different adaptive mechanisms from their expected proceeds. The model is a complex system, and we extract results through numerical simulations.

JEL: B41, C63, E42, G31.

Palabras clave : Agent-based macroeconomic modeling; complex systems; expected proceeds; financial fragility; monetary analysis..

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