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Hillman, Robert ; Barnes, Sebastian

A new firm-level model of corporate sector interactions and fragility: The Corporate Agent-Based (CAB) model

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  • Media type: E-Article
  • Title: A new firm-level model of corporate sector interactions and fragility: The Corporate Agent-Based (CAB) model
  • Contributor: Hillman, Robert
  • imprint: Paris : OECD Publishing, 2021.
  • Published in: OECD Economics Department Working Papers ; no.1675
  • Language: English
  • DOI: https://doi.org/10.1787/e9de0097-en
  • Identifier:
  • Keywords: Economics
  • Origination:
  • Footnote:
  • Description: 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.