A study of the institutional components of th interconnectedness of banks and the macroeconomy

01.10.2013 - 28.02.2018
Research funding project

The research project aims at an economic inquiry into the evolution of credit-rules and their influence on systemic risk and economic stability. In the theoretical part we compare top-down and bottom-up approaches of monetary transmission, with emphasis on the credit channel and develop an institutional theory of the evolution of credit-rules. In an empirical survey we analyse and visualize on the one hand available data on investment decisions, credit and debt obligations in Eurozone’s firm-bank networks and link them to macro aggregates. On the other hand we look into the Bank Lending Survey, conducted by the European Central Bank (ECB). Building upon such an empirical fitting with institutional theory, the project finally aims at building an agent-based model capable of describing the process of money-creation and money-destruction via credit along endogenous bottom-up logic.

People

Project leader

Institute

Grant funds

  • Österreichische Nationalbank, Jubiläumsfonds (National) Jubilee Fund of the Austrian National Bank

Research focus

  • Mathematical Methods in Economics: 100%

Keywords

GermanEnglish
Bank KreditvergabeBank Lending
Firmenkredit VergabeCorporate Lending
Privatkredit VergabeConsumer Lending
Evolutionäre MakroökonomieEvolutionary Macroeconomics
Institutionelle VermittlungInstitutional Mediation
Agentenbasierte ModellierungAgent Based Modelling

Publications