Payment Systems ABM Model

Reference sources

Reference material used for orientation; read primary and academic sources first when claims conflict.

1. [S1] Reference

   Galbiati and Soramaki (2011) -- stylized agent-based payment system with learning banks choosing how much liquidity to post (not a TARGET2 calibration)

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2. [S2] Reference

   Arciero et al. (2009) -- multi-agent simulation of Italian payment system evaluating liquidity-saving mechanisms

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3. [S3] Reference

   Beyeler et al. (2007) -- congestion and cascade dynamics in Fedwire-calibrated payment flows

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4. [S4] Reference

   Diehl (2013) -- comprehensive simulation framework for RTGS, DNS, and hybrid payment system design

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5. [S5] Reference

   Bech and Garratt (2003) -- two-player intraday liquidity management GAME (theory, not Fedwire data) supplying the strategic structure behind ABM behavioral rules

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6. [S6] Reference

   Cont, Moussa, and Santos (2013) -- systemic risk from interbank CREDIT-exposure networks using Brazilian supervisory data; a solvency-contagion study, not a payment/clearing model

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7. [S7] Reference

   Paddrik et al. (2020) -- payment network resilience under multi-system operational disruptions

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