Approaching Complex Credit-Driven Economies From The Bottom Up: An Agent-Based Model for Open Economies And An Empirical Study on Loans’ Distribution

摘要

In this thesis we use methodologies that are grounded on a ``bottom-up'' approach, denoting the importance of considering the emergence of the aggregate economic behavior from the interaction of heterogeneous economic agents. We apply this ``bottom-up' methodology both for designing a macroeconomic multi-country model and for studying the bank credit allocation in Spain from micro data about the balance sheet of Spanish companies. The work on the multi-country model allows us to examine the macroeconomic implications of joining a union for two countries in different economic scenarios. Our main conclusions are that the performance of the union is in general superior to the performance of isolated countries, but in some cases the union can exacerbate inequalities between the countries. In empirical work we discovered that large companies obtained most of the loans in Spain.