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.
| Identifer | oai:union.ndltd.org:arizona.edu/oai:arizona.openrepository.com:10150/626093 |
| Date | January 2017 |
| Creators | J. Hawkins, Raymond, Kuang, Hengyu |
| Contributors | Univ Arizona, Coll Opt Sci |
| Publisher | AMER INST MATHEMATICAL SCIENCES-AIMS |
| Source Sets | University of Arizona |
| Language | English |
| Detected Language | English |
| Type | Article |
| Rights | © 2017 the Authors, licensee AIMS Press. This is an open access article distributed under the terms of the Creative Commons Attribution License. |
| Relation | http://www.aimspress.com/article/10.3934/QFE.2017.3.219 |
Page generated in 0.0019 seconds