Agent-Based Macro with Taylor Rule, Credit Rationing & Distribution Dynamics | 1000 HH, 50 Firms, 3 Banks
💰 Monetary Policy (Taylor Rule)
🏛️ Fiscal Policy
🏦 Credit & Market Parameters
Real GDP
10000
+0.0%
Unemployment
5.0%
0.0pp
Inflation (Annual)
2.0%
0.0pp
Policy Rate
2.0%
0.0pp
Avg Bank CAR
12.0%
0.0pp
Gini (Wealth)
0.45
0.00
GDP Growth (Quarterly)
Unemployment Rate (Monthly)
Inflation Rate (Annual %)
Policy Rate (Taylor Rule)
Phillips Curve (Inflation vs Unemployment)
Wealth Distribution (Histogram)
Firm Size Distribution (Employees)
About This Model
This intermediate policy laboratory features 1000 heterogeneous households, 50 firms with inventory-based pricing,
and 3 banks providing credit subject to capital adequacy ratios. The model implements:
Taylor Rule Monetary Policy: Central bank sets rates responding to inflation gap and output gap
Credit Rationing: Banks constrained by capital ratios; firms face financing constraints
Adaptive Expectations: Firms update demand forecasts; wage/price stickiness with indexation
Phillips Curve: Observe trade-off between inflation and unemployment
Experiment with different policy rules, inject shocks, and observe how macro variables co-evolve.
The model demonstrates path-dependent dynamics and out-of-equilibrium behavior characteristic of agent-based approaches.