英文标题：
《Threadneedle: An Experimental Tool for the Simulation and Analysis of
Fractional Reserve Banking Systems》
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作者：
Jacky Mallett
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最新提交年份：
2015
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英文摘要：
Threadneedle is a multi-agent simulation framework, based on a full double entry book keeping implementation of the banking system\'s fundamental transactions. It is designed to serve as an experimental test bed for economic simulations that can explore the banking system\'s influence on the macro-economy under varying assumptions for its regulatory framework, mix of financial instruments, and activities of borrowers and lenders. Support is provided for Basel Capital and central bank reserve regulatory frameworks, inter-bank lending and correct handling of loan defaults within the bank accounting framework. In this paper we provide an overview of the design of Threadneedle, and the rational for the double entry book keeping approach used in its implementation. We then provide evidence from a series of experiments using the simulation that the macro-economic behaviour of the banking system is in some cases sensitive to double entry book keeping ledger definitions, and in particular that loss provisions can be systemically affecting. We also show that credit and money expansion in Basel regulated systems is now dominated by the Basel capital requirements, rather than the older central bank reserve requirements. This implies that bank profitability is now the main factor in providing new capital to support lending, meaning that lowering interest rates can act to restrict loan supply, rather than increasing borrowing as currently believed. We also show that long term liquidity flows due to interest repayment act in favour of the bank making the loan, and do not provide any long term throttling effect on loan expansion and money expansion as has been claimed by Keynes and others.
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中文摘要：
Threadneedle是一个多代理模拟框架，基于银行系统基本交易的完整复式记账实现。它被设计成一个经济模拟实验台，可以在监管框架、金融工具组合以及借款人和贷款人活动的不同假设下探索银行系统对宏观经济的影响。为巴塞尔资本和中央银行准备金监管框架、银行间贷款以及在银行会计框架内正确处理贷款违约提供支持。本文概述了Threadneedle的设计，以及在实现中使用复式簿记方法的合理性。然后，我们利用模拟提供了一系列实验的证据，表明银行系统的宏观经济行为在某些情况下对复式簿记分类账定义敏感，尤其是损失准备金可能会产生系统性影响。我们还表明，巴塞尔监管体系中的信贷和货币扩张现在由巴塞尔资本要求而不是旧的中央银行准备金要求主导。这意味着银行盈利能力现在是提供新资本支持贷款的主要因素，这意味着降低利率可以限制贷款供应，而不是像目前认为的那样增加借贷。我们还表明，由于利息偿还而产生的长期流动性流动有利于发放贷款的银行，并且不会像凯恩斯和其他人所说的那样，对贷款扩张和货币扩张产生任何长期抑制作用。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：General Finance 一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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一级分类：Quantitative Finance 数量金融学
二级分类：Economics 经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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