Documents de travail du Département des Affaires économiques de l'OCDE
Documents de travail du Département des affaires économiques de l’OCDE recouvrant toutes les activités de ce département : conjoncture économique, analyse politique et projections ; politique fiscale, dépenses publiques et fiscalité ; questions structurelles dont le vieillissement, la croissance et la productivité, la migration, l’environnement, le capital humain, le logement, les échanges et les investissements, les marchés de l’emploi, la réforme réglementaire, la concurrence, la santé et d’autres thèmes.
- ISSN: 18151973 (online)
- https://doi.org/10.1787/18151973
A new firm-level model of corporate sector interactions and fragility: The Corporate Agent-Based (CAB) model
This paper develops a new large-scale firm-level simulation model, the Corporate Sector Agent-Based (CAB) Model, which is applied to analyse the COVID-19 shock and policy options in Barnes, Hillman, MacDonald and Wharf (2021). Agent-based models (ABMs) simulate the interaction of autonomous agents to generate emergent aggregate behaviours. The CAB model takes into account: heterogeneity across firms; a realistic customer-supplier network; interactions between firms; rule-of-thumb behaviour by firms and bankruptcy constraints.
Keywords: short-time working schemes, input-output analysis, firm dynamics, network analysis, Covid-19, agent-based modelling, bankruptcy, credit guarantees, firm-level data, financial stability
JEL:
D21: Microeconomics / Production and Organizations / Firm Behavior: Theory;
G33: Financial Economics / Corporate Finance and Governance / Bankruptcy; Liquidation;
D85: Microeconomics / Information, Knowledge, and Uncertainty / Network Formation and Analysis: Theory;
D57: Microeconomics / General Equilibrium and Disequilibrium / General Equilibrium and Disequilibrium: Input-Output Tables and Analysis;
D22: Microeconomics / Production and Organizations / Firm Behavior: Empirical Analysis;
E27: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications
- Click to access:
-
Click to download PDF - 2.10MBPDF