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Lending Sociodynamics and Drivers of the Financial Business Cycle

We extend sociodynamic modeling of the financial business cycle to the Euro Area and Japan. Using an opinion-formation model and machine learning techniques we find stable model estimation of the financial business cycle using central bank lending surveys and a few selected macroeconomic variables. We find that banks have asymmetric response to good and bad economic information, and that banks adapt to their peers' opinions when changing lending policies.

Identiferoai:union.ndltd.org:arizona.edu/oai:arizona.openrepository.com:10150/626093
Date January 2017
CreatorsJ. Hawkins, Raymond, Kuang, Hengyu
ContributorsUniv Arizona, Coll Opt Sci
PublisherAMER INST MATHEMATICAL SCIENCES-AIMS
Source SetsUniversity of Arizona
LanguageEnglish
Detected LanguageEnglish
TypeArticle
Rights© 2017 the Authors, licensee AIMS Press. This is an open access article distributed under the terms of the Creative Commons Attribution License.
Relationhttp://www.aimspress.com/article/10.3934/QFE.2017.3.219

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