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The model describes a contemporary economic system composed by agents that are characterized by a precise economic condition and that interact on three types of market: the job market, the goods market and the financial market. The agents are divided into four different categories: Families, who hold a capital, provide work in exchange for wage, save and consume, Firms, that provide a wage for Families, produce goods and invest, Banks, which collecting deposits and making loans, participate in the circuit of money creation and a Central Bank which has the status of last resort lender.

The Initialization consists of three successive steps:

- Defining the initial Banks cash
- Payment of the FamiliesTotalAssets in Banks deposits
- Application of the interest rate on deposits

Defined the Initialization, each time interval (corresponding to a day) consists of six steps that determine the evolution of the system:

- Loan requests from Firms
- Payment in Bank deposits
- Repayment of loans
- Withdrawal from deposits
- Withdrawal from deposits 2
- Application of the interest rate on deposits

- Adjust the slider parameters (see below).
- Press the SETUP button.
- Press the GO button to begin the simulation.

Parameters that have to be choosen:

- BanksInitialNumber: set the initial number of Banks.
- FirmsNumber: set the initial number of Firms.
- FamiliesTotalAssets: set the initial total assets of Families.
- CentralBankInitialCash: set the initial cash of Central Bank.
- MinInitialLiquidity: set the minimum initial cash of Banks.
- MaxInitialLiquidity: set the maximum initial cash of Banks.
- MinCashForLoan: set the minimum cash of Banks for the granting of a loan.
- MinCashForLoanCB: set the minimum cash of Central Bank for the granting of a loan.
- Loan: set the amount of a loan request by a Firm.
- Ave#LoansRequests: set the average number of loans requests.
- RepaymentPeriod: set the period of time for the repayment of a loan.
- CBRiskAversion: set the strategy of Central Bank; “Risk aversion” (ON) and “Cooperation” (OFF).
- Withdrawal: set the amount of a withdrawal from a deposit.
- Ave#Withdrawal: set the average number of withdrawals from deposits.
- rD: set the annual interest rate guaranteed by Banks on deposits.
- rC: set the annual interest rate on Bank-Firm loans.
- rB: set the annual interest rate on Bank-Bank loans.
- rCB: set the annual interest rate on Central Bank-Bank loans.

Run the model considering a Central Bank adopting “Risk Aversion” and after, with the same setup, run the model considering a Central Bank adopting “Cooperation”. This procedure allows to identify the differences that appear in the dynamics of the system for the two strategies adoptable by the Central Bank.

An interesting modification of the model is to consider a heterogeneous set of Banks that have a relative size with an exponential dependence of their cardinality: the fraction of Families that at the initialization deposits their part of FamiliesTotalAssets in the deposits of the b-th Bank is exponentially proportional to b.

This model is based on the innovative paper Raberto M, Rapallo F, Scalas E (2011), Semi-Markov Graph Dynamics. PLoS ONE 6(8): e23370. doi:10.1371/journal.pone.0023370

http://www.plosone.org/article/info%3Adoi%2F10.1371%2Fjournal.pone.0023370

From this paper started the master thesis of Marco Maria Bosco, 2013, “Simulazioni di Mercati del Credito: Il Modello di Mercato ad Agenti”. See http://web.econ.unito.it/terna/tesi/bosco.pdf to view the complete text of the master’s thesis where you’ll find a full description of the code, a comprehensive study of the dynamics of the model and its possible applications to a real economic system.

breed [Banks Bank] breed [Firms Firm] breed [CentralBanks CentralBank] directed-link-breed [LoansBF LoanBF] directed-link-breed [LoansBB LoanBB] directed-link-breed [LoansCBB LoanCBB] CentralBanks-own [ReservesCB LoansCB BanknotesInCirculation] Banks-own [CashB LoansB DepositsB DebtsB] LoansBF-own [Age AmountBF] LoansBB-own [Age AmountBB] LoansCBB-own [Age AmountCBB] globals [ListOmega] to setup clear-all reset-ticks ask patches [set pcolor 8] create-CentralBanks 1 [set color Yellow set shape "building institution" set size 3 setxy 25 0 ] create-Banks BanksInitialNumber [set color Red set shape "building institution" set size 1.5 ] layout-circle Banks 15 create-Firms FirmsNumber [set color Blue set shape "factory" set size 1.5 ] layout-circle Firms 24.5 ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ;;;; INITIALIZATION ;;;; ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ask CentralBanks [set ReservesCB 0 set LoansCB 0 set BanknotesInCirculation 0 ] ask Banks [set LoansB 0 set DebtsB 0 set ListOmega [] repeat BanksInitialNumber [set ListOmega lput random-float 1 ListOmega] let Tot (sum ListOmega) let j 0 while [j < BanksInitialNumber] [set ListOmega replace-item j ListOmega (item j ListOmega / Tot) set j (j + 1) ] let i 1 while [i <= BanksInitialNumber] [ask (Bank i) [set CashB ((MinInitialLiquidity + random (MaxInitialLiquidity - MinInitialLiquidity)) + ((item (i - 1) ListOmega) * FamiliesTotalAssets)) set DepositsB (((item (i - 1) ListOmega) * FamiliesTotalAssets) * ((1 + rD) ^ (1 / 360))) ] set i (i + 1) ] ] end to go ask LoansBF [set Age Age + 1] ask LoansBB [set Age Age + 1] ask LoansCBB [set Age Age + 1] let BanksNumber (count Banks with [color = Red]) if (BanksNumber = 0) [ stop ] ask Firms [set color Blue] ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ;;; LOAN REQUESTS FROM FIRMS & PAYMENT IN BANK DEPOSITS ;;; ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; let NoR (min (list (random-poisson Ave#LoansRequests) FirmsNumber)) ; NoR: Number of Requests ask n-of NoR Firms [let MyBank one-of Banks with [color = Red] ifelse (Mybank != Nobody) [ifelse (([CashB] of MyBank) - Loan) >= MinCashForLoan [create-LoanBF-from MyBank ; Creation of link Bank -> Firm [set color Green set Age 0 set AmountBF Loan ; Loan requested by the Firm: Loan ask end1 [set CashB (CashB - ([AmountBF] of myself)) set LoansB (LoansB + (([AmountBF] of myself) * ((1 + rC) ^ (RepaymentPeriod / 360)))) ] set ListOmega [] ; Payment in Bank deposits repeat BanksNumber [set ListOmega lput random-float 1 ListOmega] let Tot (sum ListOmega) let j 0 while [j < BanksNumber] [set ListOmega replace-item j ListOmega (item j ListOmega / Tot) set j (j + 1) ] let i 1 let k 0 while [i <= BanksInitialNumber and k < BanksNumber] [ask (Bank i) [if (([color] of Bank i) = Red) [set CashB (CashB + ((item k ListOmega) * ([AmountBF] of myself))) set DepositsB (DepositsB + ((item k ListOmega) * ([AmountBF] of myself))) set k (k + 1) ] ] set i (i + 1) ] ] ] [ask MyBank [let OtherBank one-of other Banks with [color = Red] ifelse ((OtherBank != Nobody) and (([CashB] of OtherBank) + ([CashB] of MyBank) - Loan) >= (2 * MinCashForLoan)) [create-LoanBB-from OtherBank ; Creation of link Bank -> Bank [set color Pink set Age 0 set AmountBB (MinCashForLoan - ([CashB] of MyBank) + Loan) ; Loan requested by MyBank: MinCashForLoan - ([CashB] of MyBank) + Loan ask end1 [set CashB (CashB - ([AmountBB] of myself)) set LoansB (LoansB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ask end2 [set CashB (MinCashForLoan + Loan) set DebtsB (DebtsB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ] create-LoanBF-to myself ; Creation of link Bank -> Firm [set color Green set Age 0 set AmountBF Loan ; Loan requested by the Firm: Loan ask end1 [set CashB MinCashForLoan set LoansB (LoansB + (([AmountBF] of myself) * ((1 + rC) ^ (RepaymentPeriod / 360)))) ] set ListOmega [] ; Payment in Bank deposits repeat BanksNumber [set ListOmega lput random-float 1 ListOmega] let Tot (sum ListOmega) let j 0 while [j < BanksNumber] [set ListOmega replace-item j ListOmega (item j ListOmega / Tot) set j (j + 1) ] let i 1 let k 0 while [i <= BanksInitialNumber and k < BanksNumber] [ask (Bank i) [if (([color] of Bank i) = Red) [set CashB (CashB + ((item k ListOmega) * ([AmountBF] of myself))) set DepositsB (DepositsB + ((item k ListOmega) * ([AmountBF] of myself))) set k (k + 1) ] ] set i (i + 1) ] ] ] [ifelse CBConservativeChoice [ifelse (([CashB] of MyBank) >= (0.2 * ([DepositsB] of MyBank)) and ((([BanknotesInCirculation] of CentralBank 0) + (MinCashForLoan - ([CashB] of MyBank) + Loan)) <= MaxBanknotesInCirculation)) ; CBConservativeChoice ON [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (MinCashForLoan - ([CashB] of MyBank) + Loan) ; Loan requested by MyBank: MinCashForLoan - ([CashB] of MyBank) + Loan ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB (MinCashForLoan + Loan) set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] create-LoanBF-to myself ; Creation of link Bank -> Firm [set color Green set Age 0 set AmountBF Loan ; Loan requested by the Firm: Loan ask end1 [set CashB MinCashForLoan set LoansB (LoansB + (([AmountBF] of myself) * ((1 + rC) ^ (RepaymentPeriod / 360)))) ] set ListOmega [] ; Payment in Bank deposits repeat BanksNumber [set ListOmega lput random-float 1 ListOmega] let Tot (sum ListOmega) let j 0 while [j < BanksNumber] [set ListOmega replace-item j ListOmega (item j ListOmega / Tot) set j (j + 1) ] let i 1 let k 0 while [i <= BanksInitialNumber and k < BanksNumber] [ask (Bank i) [if (([color] of Bank i) = Red) [set CashB (CashB + ((item k ListOmega) * ([AmountBF] of myself))) set DepositsB (DepositsB + ((item k ListOmega) * ([AmountBF] of myself))) set k (k + 1) ] ] set i (i + 1) ] ] ] [ask myself [set color Yellow] ; The Firm doesn't get the required loan ] ] [ifelse (([CashB] of MyBank) < (0.2 * ([DepositsB] of MyBank))) ; CBConservativeChoice OFF [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (MinCashForLoan - ([CashB] of MyBank) + Loan) ; Loan requested by MyBank: MinCashForLoan - ([CashB] of MyBank) + Loan ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB (MinCashForLoan + Loan) set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] create-LoanBF-to myself ; Creation of link Bank -> Firm [set color Green set Age 0 set AmountBF Loan ; Loan requested by the Firm: Loan ask end1 [set CashB MinCashForLoan set LoansB (LoansB + (([AmountBF] of myself) * ((1 + rC) ^ (RepaymentPeriod / 360)))) ] set ListOmega [] ; Payment in Bank deposits repeat BanksNumber [set ListOmega lput random-float 1 ListOmega] let Tot (sum ListOmega) let j 0 while [j < BanksNumber] [set ListOmega replace-item j ListOmega (item j ListOmega / Tot) set j (j + 1) ] let i 1 let k 0 while [i <= BanksInitialNumber and k < BanksNumber] [ask (Bank i) [if (([color] of Bank i) = Red) [set CashB (CashB + ((item k ListOmega) * ([AmountBF] of myself))) set DepositsB (DepositsB + ((item k ListOmega) * ([AmountBF] of myself))) set k (k + 1) ] ] set i (i + 1) ] ] ] [ask myself [set color Yellow] ; The Firm doesn't get the required loan ] ] ] ] ] ] [ask myself [set color Yellow] ; The Firm doesn't get the required loan ] ] ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ;;;; REPAYMENT OF LOANS ;;;; ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ask LoansBF with [Age = RepaymentPeriod] ; Repayment of Bank - Firm loans [ask end1 [set CashB (CashB + (([AmountBF] of myself) * ((1 + rC) ^ (RepaymentPeriod / 360)))) set LoansB (LoansB - (([AmountBF] of myself) * ((1 + rC) ^ (RepaymentPeriod / 360)))) ] die ] ask LoansBB with [Age = RepaymentPeriod] ; Repayment of Bank - Bank loans [ifelse (([CashB] of end2) >= (AmountBB * ((1 + rB) ^ (RepaymentPeriod / 360)))) [ask end1 [set CashB (CashB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) set LoansB (LoansB - (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ask end2 [set CashB (CashB - (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) set DebtsB (DebtsB - (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] die ] [set Age (RepaymentPeriod - 1) ] ] ask LoansCBB with [Age = RepaymentPeriod] ; Repayment of Central Bank - Bank loans [ifelse (([CashB] of end2) >= (AmountCBB * ((1 + rCB) ^ (RepaymentPeriod / 360)))) [ask end1 [set ReservesCB (ReservesCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set LoansCB (LoansCB - (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ask end2 [set CashB (CashB - (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set DebtsB (DebtsB - (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] die ] [set Age (RepaymentPeriod - 1) ] ] ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ;;;; WITHDRAWAL FROM DEPOSITS ;;;; ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; let NoW (min (list (random-poisson Ave#Withdrawal) BanksNumber)) ; NoW: Number of Withdrawals ask n-of NoW (Banks with [color = Red]) [ifelse (CashB >= DepositsB) [ifelse (Withdrawal <= DepositsB) [set CashB (CashB - Withdrawal) ; CashB >= DepositsB >= Withdrawal set DepositsB (DepositsB - Withdrawal) ] [set CashB (CashB - DepositsB) ; CashB >= Withdrawal >= DepositsB or Withdrawal >= CashB >= DepositsB set DepositsB 0 ] ] [ifelse (Withdrawal <= CashB) [set CashB (CashB - Withdrawal) ; DepositsB >= CashB >= Withdrawal set DepositsB (DepositsB - Withdrawal) ] [ifelse (Withdrawal <= DepositsB) [let OtherBank one-of other Banks with [color = Red] ; DepositsB >= Withdrawal >= CashB ifelse ((OtherBank != Nobody) and ((([CashB] of OtherBank) - (Withdrawal - CashB)) >= MinCashForLoan)) [create-LoanBB-from OtherBank ; Creazione link Banca -> Banca [set color Pink set Age 0 set AmountBB (Withdrawal - ([CashB] of myself)) ; Loan requested by the Bank: Withdrawal - ([CashB] of myself) ask end1 [set CashB (CashB - ([AmountBB] of myself)) set LoansB (LoansB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ask end2 [set CashB 0 set DepositsB (DepositsB - Withdrawal) set DebtsB (DebtsB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ] ] [ifelse CBConservativeChoice [ifelse ((CashB >= (0.2 * DepositsB)) and ((([BanknotesInCirculation] of CentralBank 0) + (Withdrawal - CashB)) <= MaxBanknotesInCirculation)) ; CBConservativeChoice ON [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (Withdrawal - ([CashB] of myself)) ; Loan requested by the Bank: Withdrawal - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB (DepositsB - Withdrawal) set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] [ifelse (CashB < (0.2 * DepositsB)) ; CBConservativeChoice OFF [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (Withdrawal - ([CashB] of myself)) ; Loan requested by the Bank: Withdrawal - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB (DepositsB - Withdrawal) set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] ] ] [let OtherBank one-of other Banks with [color = Red] ; Withdrawal >= DepositsB >= CashB ifelse ((OtherBank != Nobody) and ((([CashB] of OtherBank) - (DepositsB - CashB)) >= MinCashForLoan)) [create-LoanBB-from OtherBank ; Creation of link Bank -> Bank [set color Pink set Age 0 set AmountBB (([DepositsB] of myself) - ([CashB] of myself)) ; Loan requested by the Bank: ([DepositsB] of myself) - ([CashB] of myself) ask end1 [set CashB (CashB - ([AmountBB] of myself)) set LoansB (LoansB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ask end2 [set CashB 0 set DepositsB 0 set DebtsB (DebtsB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ] ] [ifelse CBConservativeChoice [ifelse ((CashB >= (0.2 * DepositsB)) and ((([BanknotesInCirculation] of CentralBank 0) + (DepositsB - CashB)) <= MaxBanknotesInCirculation)) ; CBConservativeChoice ON [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (([DepositsB] of myself) - ([CashB] of myself)) ; Loan requested by the Bank: ([DepositsB] of myself) - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB 0 set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] [ifelse (CashB < (0.2 * DepositsB)) ; CBConservativeChoice OFF [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (([DepositsB] of myself) - ([CashB] of myself)) ; Loan requested by the Bank: ([DepositsB] of myself) - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB 0 set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] ] ] ] ] ] ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ;;;; WITHDRAWAL FROM DEPOSITS 2 ;;;; ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; let NoFwL (count (Firms with [color = Yellow])) ; NoFwL: Number of Firms without the requested Loan let WithdrawalAmount (NoFwL * Loan) ; WithdrawalAmount: Amount of money that has not been obtained from the Firms ask Banks [set ListOmega [] repeat BanksNumber [set ListOmega lput random-float 1 ListOmega] let Tot (sum ListOmega) let j 0 while [j < BanksNumber] [set ListOmega replace-item j ListOmega (item j ListOmega / Tot) set j (j + 1) ] let i 1 let k 0 while [i <= BanksInitialNumber and k < BanksNumber] [ask (Bank i) [if (([color] of Bank i) = Red) [ifelse (CashB >= DepositsB) [ifelse (((item k ListOmega) * WithdrawalAmount) <= DepositsB) [set CashB (CashB - ((item k ListOmega) * WithdrawalAmount)) ; CashB >= DepositsB >= ((item k ListOmega) * WithdrawalAmount) set DepositsB (DepositsB - ((item k ListOmega) * WithdrawalAmount)) ] [set CashB (CashB - DepositsB) ; CashB >= ((item k ListOmega) * WithdrawalAmount) >= DepositsB or ((item k ListOmega) * WithdrawalAmount) >= CashB >= DepositsB set DepositsB 0 ] ] [ifelse (((item k ListOmega) * WithdrawalAmount) <= CashB) [set CashB (CashB - ((item k ListOmega) * WithdrawalAmount)) ; DepositsB >= CashB >= ((item k ListOmega) * WithdrawalAmount) set DepositsB (DepositsB - ((item k ListOmega) * WithdrawalAmount)) ] [ifelse (((item k ListOmega) * WithdrawalAmount) <= DepositsB) [let OtherBank one-of other Banks with [color = Red] ; DepositsB >= ((item k ListOmega) * WithdrawalAmount) >= CashB ifelse ((OtherBank != Nobody) and ((([CashB] of OtherBank) - (((item k ListOmega) * WithdrawalAmount) - CashB)) >= MinCashForLoan)) [create-LoanBB-from OtherBank ; Creation of link Bank -> Bank [set color Pink set Age 0 set AmountBB (((item k ListOmega) * WithdrawalAmount) - ([CashB] of myself)) ; Loan requested by the Bank: ((item k ListOmega) * WithdrawalAmount) - ([CashB] of myself) ask end1 [set CashB (CashB - ([AmountBB] of myself)) set LoansB (LoansB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ask end2 [set CashB 0 set DepositsB (DepositsB - ((item k ListOmega) * WithdrawalAmount)) set DebtsB (DebtsB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ] ] [ifelse CBConservativeChoice [ifelse ((CashB >= (0.2 * DepositsB)) and ((([BanknotesInCirculation] of CentralBank 0) + (((item k ListOmega) * WithdrawalAmount) - CashB)) <= MaxBanknotesInCirculation)) ; CBConservativeChoice ON [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (((item k ListOmega) * WithdrawalAmount) - ([CashB] of myself)) ; Loan requested by the Bank: ((item k ListOmega) * WithdrawalAmount) - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB (DepositsB - ((item k ListOmega) * WithdrawalAmount)) set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] [ifelse (CashB < (0.2 * DepositsB)) ; CBConservativeChoice OFF [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (((item k ListOmega) * WithdrawalAmount) - ([CashB] of myself)) ; Loan requested by the Bank: ((item k ListOmega) * WithdrawalAmount) - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB (DepositsB - ((item k ListOmega) * WithdrawalAmount)) set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] ] ] [let OtherBank one-of other Banks with [color = Red] ; ((item k ListOmega) * WithdrawalAmount) >= DepositsB >= CashB ifelse ((OtherBank != Nobody) and ((([CashB] of OtherBank) - (DepositsB - CashB)) >= MinCashForLoan)) [create-LoanBB-from OtherBank ; Creation of link Bank -> Bank [set color Pink set Age 0 set AmountBB (([DepositsB] of myself) - ([CashB] of myself)) ; Loan requested by the Bank: ([DepositsB] of myself) - ([CashB] of myself) ask end1 [set CashB (CashB - ([AmountBB] of myself)) set LoansB (LoansB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ask end2 [set CashB 0 set DepositsB 0 set DebtsB (DebtsB + (([AmountBB] of myself) * ((1 + rB) ^ (RepaymentPeriod / 360)))) ] ] ] [ifelse CBConservativeChoice [ifelse ((CashB >= (0.2 * DepositsB)) and ((([BanknotesInCirculation] of CentralBank 0) + (DepositsB - CashB)) <= MaxBanknotesInCirculation)) ; CBConservativeChoice ON [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (([DepositsB] of myself) - ([CashB] of myself)) ; Loan requested by the Bank: ([DepositsB] of myself) - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB 0 set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] [ifelse (CashB < (0.2 * DepositsB)) ; CBConservativeChoice OFF [create-LoanCBB-from CentralBank 0 ; Creation of link Central Bank -> Bank [set color Blue set Age 0 set AmountCBB (([DepositsB] of myself) - ([CashB] of myself)) ; Loan requested by the Bank: ([DepositsB] of myself) - ([CashB] of myself) ask end1 [set LoansCB (LoansCB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) set BanknotesInCirculation (BanknotesInCirculation + ([AmountCBB] of myself)) ] ask end2 [set CashB 0 set DepositsB 0 set DebtsB (DebtsB + (([AmountCBB] of myself) * ((1 + rCB) ^ (RepaymentPeriod / 360)))) ] ] ] [set DepositsB (DepositsB - CashB) ; The loan is not granted, Bank's default set CashB 0 set color Black ] ] ] ] ] ] set k (k + 1) ] ] set i (i + 1) ] ] ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ;;;; INTEREST RATE ON DEPOSITS ;;;; ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; ask (Banks with [color = Red]) [set DepositsB (DepositsB * ((1 + rD) ^ (1 / 360))) ] tick end