The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model:
Covid-19 and the associated restrictions on interaction have led to an unprecedented shock to activity and firms' balance sheets. To assess the impact, this paper applies a new large-scale firm-level simulation model calibrated to the United Kingdom (UK). The paper specifically examines the Cor...
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2021
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Covid-19 and the associated restrictions on interaction have led to an unprecedented shock to activity and firms' balance sheets. To assess the impact, this paper applies a new large-scale firm-level simulation model calibrated to the United Kingdom (UK). The paper specifically examines the Coronavirus Job Retention Scheme (CJRS) furlough program and a credit guarantee. The Corporate Sector Agent-Based (CAB) Model (Hillman, Barnes, Wharf and MacDonald, 2021) takes into account: heterogeneity across firms; interactions between firms across a realistic customer-supplier network; and rule-of-thumb behaviour by firms and bankruptcy constraints. The model amplifies the effect of shocks and generates substantial persistence and overshooting, as well as displaying a number of non-linearities. The CAB uses a data-rich approach based on ORBIS firm-level data and the OECD Input-Output tables. Simulations in this paper are calibrated to the observed path of UK output in 2020 |
| Beschreibung: | 1 Online-Ressource (32 Seiten) |
| DOI: | 10.1787/b6805eed-en |
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| index_date | 2024-07-03T19:34:54Z |
| indexdate | 2024-12-18T19:02:01Z |
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| language | English |
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| spelling | Barnes, Sebastian Verfasser aut The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model Sebastian Barnes ... [et al] Paris OECD Publishing 2021 1 Online-Ressource (32 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Covid-19 and the associated restrictions on interaction have led to an unprecedented shock to activity and firms' balance sheets. To assess the impact, this paper applies a new large-scale firm-level simulation model calibrated to the United Kingdom (UK). The paper specifically examines the Coronavirus Job Retention Scheme (CJRS) furlough program and a credit guarantee. The Corporate Sector Agent-Based (CAB) Model (Hillman, Barnes, Wharf and MacDonald, 2021) takes into account: heterogeneity across firms; interactions between firms across a realistic customer-supplier network; and rule-of-thumb behaviour by firms and bankruptcy constraints. The model amplifies the effect of shocks and generates substantial persistence and overshooting, as well as displaying a number of non-linearities. The CAB uses a data-rich approach based on ORBIS firm-level data and the OECD Input-Output tables. Simulations in this paper are calibrated to the observed path of UK output in 2020 Economics United Kingdom Hillman, Robert ctb Wharf, George ctb MacDonald, Duncan ctb https://doi.org/10.1787/b6805eed-en Verlag kostenfrei Volltext |
| spellingShingle | Barnes, Sebastian The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model Economics United Kingdom |
| title | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model |
| title_auth | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model |
| title_exact_search | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model |
| title_exact_search_txtP | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model |
| title_full | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model Sebastian Barnes ... [et al] |
| title_fullStr | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model Sebastian Barnes ... [et al] |
| title_full_unstemmed | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model Sebastian Barnes ... [et al] |
| title_short | The impact of COVID-19 on corporate fragility in the United Kingdom: Insights from a new calibrated firm-level Corporate Sector Agent-Based (CAB) Model |
| title_sort | the impact of covid 19 on corporate fragility in the united kingdom insights from a new calibrated firm level corporate sector agent based cab model |
| topic | Economics United Kingdom |
| topic_facet | Economics United Kingdom |
| url | https://doi.org/10.1787/b6805eed-en |
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