centralbank_functions_credit.c

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#include "../header.h"
#include "../centralbank_agent_header.h"

/*
 * \fn: int centralbank_set_interest_rate()
 * \brief:
 */
int centralbank_set_interest_rate()
{
    double inflation, rcb, rcb_pre;
    
    if (CONSUMPTION_GOODS_PRICES[0] == 0) {
        inflation = 0;
    }
    else {
        inflation = (CONSUMPTION_GOODS_PRICES[11] - CONSUMPTION_GOODS_PRICES[0]) / CONSUMPTION_GOODS_PRICES[0];
    }
    
    
    // Taylors Rule:
    rcb = inflation;
    rcb += (inflation - INFLATION_TARGET) * 0.5;
    rcb -=  UNEMPLOYMENT_RATE * 0.5;
    
    
    /* This is added temporarily for experimentation. */
    double  rcb_delta;
    rcb_pre = INTEREST_RATE;
    
    rcb_delta = rcb - INTEREST_RATE;
    
    if (fabs(rcb_delta) > 0.025) {
        if (rcb_delta > 0) {
            rcb = rcb_pre + 0.025;
        }
        else{
            rcb = rcb_pre - 0.025;
        }
    }
    if (rcb > 0.25) {rcb = 0.25;}
    
     /* experimentation end */
    
    if (rcb < 0.005){rcb = 0.005;}
    

    
    INFLATION_RATE = inflation;
    INTEREST_RATE = rcb;
    
    add_interest_rate_message(INTEREST_RATE);
    
    
    return 0; /* Returning zero means the agent is not removed */
}


/*
 * \fn: int centralbank_collect_interest_payments()
 * \brief: Central Bank collects interest payments from banks.
 */
int centralbank_collect_interest_payments()
{
    double amount;
    INTERESTS_ACCRUED = 0;
    
    //printf("Centalbank at interest paymements, pre-liquidity = %f\n", LIQUIDITY);
    START_BANK_CENTRALBANK_INTEREST_PAYMENT_MESSAGE_LOOP
    amount = bank_centralbank_interest_payment_message->amount;
    INTERESTS_ACCRUED += amount;
    LIQUIDITY += amount;
    FINISH_BANK_CENTRALBANK_INTEREST_PAYMENT_MESSAGE_LOOP
    
    //printf("Centalbank at interest paymements, post-liquidity = %f\n", LIQUIDITY);
    return 0; /* Returning zero means the agent is not removed */
}

/*
 * \fn: int centralbank_process_debt_requests()
 * \brief: Central Bank handles each bank debt request.
 */
int centralbank_process_debt_requests()
{
    double amount;
    
    //printf("Centalbank at debt requests, pre-liquidity = %f\n", LIQUIDITY);
    
    START_BANK_CENTRALBANK_DEBT_REQUEST_MESSAGE_LOOP
    amount = bank_centralbank_debt_request_message->amount;
    LOANS_BANKS += amount;
    //LIQUIDITY -= amount;
    FINISH_BANK_CENTRALBANK_DEBT_REQUEST_MESSAGE_LOOP
    
    
    START_BANK_CENTRALBANK_DEBT_PAYMENT_MESSAGE_LOOP
    amount = bank_centralbank_debt_payment_message->amount;
    LOANS_BANKS -= amount;
    //LIQUIDITY += amount;
    FINISH_BANK_CENTRALBANK_DEBT_PAYMENT_MESSAGE_LOOP
    
    LIQUIDITY_BANKS = 0;
    START_BANK_CENTRALBANK_UPDATE_DEPOSIT_MESSAGE_LOOP
    LIQUIDITY_BANKS += bank_centralbank_update_deposit_message->amount;
    FINISH_BANK_CENTRALBANK_UPDATE_DEPOSIT_MESSAGE_LOOP
    
    //printf("Centalbank at debt requests, post-liquidity = %f\n", LIQUIDITY);
    
    return 0; /* Returning zero means the agent is not removed */
}


/*
 * \fn: int centralbank_compute_income_statement()
 * \brief: Central Bank computes the income statement.
 * Profits are sent to the government.
 */
int centralbank_compute_income_statement()
{
    /* No writeoff mechanism is implemneted yet.*/
    TOTAL_WRITEOFFS = 0;
    
    REVENUES = INTERESTS_ACCRUED;
    TOTAL_COSTS = TOTAL_WRITEOFFS;
    NET_EARNINGS = REVENUES - TOTAL_COSTS;
    if (NET_EARNINGS > 0) {
        add_centralbank_government_profit_message(NET_EARNINGS);
        LIQUIDITY -= NET_EARNINGS;
    }
    
    return 0; /* Returning zero means the agent is not removed */
}


/*
 * \fn: int centralbank_process_government_requests()
 * \brief:
 */
int centralbank_process_government_requests()
{
    double amount;
    
    START_GOV_CENTRALBANK_DEBT_REQUEST_MESSAGE_LOOP
    amount = gov_centralbank_debt_request_message->amount;
    LOANS_GOVERNMENT += amount;
    //LIQUIDITY  -= amount;
    FINISH_GOV_CENTRALBANK_DEBT_REQUEST_MESSAGE_LOOP
    
    START_GOV_CENTRALBANK_DEBT_PAYMENT_MESSAGE_LOOP
    amount = gov_centralbank_debt_payment_message->amount;
    LOANS_GOVERNMENT -= amount;
    //LIQUIDITY += amount;
    FINISH_GOV_CENTRALBANK_DEBT_PAYMENT_MESSAGE_LOOP
    
    LIQUIDITY_GOVERNMENT = 0;
    START_GOV_CENTRALBANK_UPDATE_DEPOSIT_MESSAGE_LOOP
    LIQUIDITY_GOVERNMENT = gov_centralbank_update_deposit_message->amount;
    FINISH_GOV_CENTRALBANK_UPDATE_DEPOSIT_MESSAGE_LOOP
    
    return 0; /* Returning zero means the agent is not removed */
}


/*
 * \fn: int centralbank_do_balance_sheet()
 * \brief: Central Bank does the balance sheet accounting.
 */
int centralbank_do_balance_sheet()
{
    LIQUIDITY_EQUITYFUND = 0;
    START_FUND_CENTRALBANK_UPDATE_DEPOSIT_MESSAGE_LOOP
    LIQUIDITY_EQUITYFUND = fund_centralbank_update_deposit_message->amount;
    FINISH_FUND_CENTRALBANK_UPDATE_DEPOSIT_MESSAGE_LOOP
    /* Equity Fund liquidity is disregarded. */
    LIQUIDITY_EQUITYFUND = 0;
    
    double deposits, liabilities, loans;
    
    loans = LOANS_BANKS + LOANS_GOVERNMENT;
    deposits = LIQUIDITY_BANKS + LIQUIDITY_GOVERNMENT + LIQUIDITY_EQUITYFUND;
    FIAT_MONEY = loans - deposits;
    if (FIAT_MONEY < 0) {
        LIQUIDITY = -1 * FIAT_MONEY;
        FIAT_MONEY = 0;
    }
    
    liabilities = FIAT_MONEY + deposits;
    TOTAL_ASSETS = loans + LIQUIDITY;
    EQUITY = TOTAL_ASSETS - liabilities;
    
    if (DATA_COLLECTION_MODE) {
        char * filename;
        FILE * file1;
        filename = malloc(100*sizeof(char));
        filename[0]=0;
        strcpy(filename, "./outputs/data/CentralBank_snapshot.txt");
        
        file1 = fopen(filename,"a");
        fprintf(file1,"%d %f %f %f %f %f %f %f %f %f %f %f %f %f %f\n",IT_NO, INTEREST_RATE, INFLATION_RATE, REVENUES, TOTAL_COSTS, NET_EARNINGS, TOTAL_ASSETS, LIQUIDITY, LOANS_BANKS, LOANS_GOVERNMENT, EQUITY,FIAT_MONEY, LIQUIDITY_BANKS, LIQUIDITY_GOVERNMENT, LIQUIDITY_EQUITYFUND);
        fclose(file1);
        free(filename);
    }
    
    return 0; /* Returning zero means the agent is not removed */
}