Agent-Based Modeling of a Multiagent Multilayer Endogenous Financial Network and Numerical Simulations

Table 2

Parameter setting.

Parameter	Description	Value
T	Number of evolutionary periods	100
NB	Number of banks	20
NSF	Number of supplier firms	750
NTF	Number of terminal firms	250
NH	Number of households	10000
NG	Number of governments	1
wage	Wage rate	U (0.1, 0.6)
φ1	Comprehensive technology level of firms	1.2
φ2	Coefficient of elasticity of firm’s capital output	0.8
δ	Coefficient of elasticity of firm’s labor output	0.5
r^f	Firm production target profit rate	0.08
r^p	Firm prepayment rate	0.5
Fr	Initial firm financing multiplier	1.8
λ	Counterparty replacement parameters	0.05
r0	Risk-free rate	0.0175
α^bf	Sensitivity of bank loan rates to firm risk	0.02
α^bh	Sensitivity of bank loan rates to household risk	0.01
αs^bb	Sensitivity of short-term interbank lending rates to interbank risk	0.02
αl^bb	Sensitivity of short-term interbank lending rates to interbank risk	0.01
λ^h	Expected lasting income adjustment parameters	0.3
	Propensity to consume	N (1.0, 0.1)