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Gjerstad, S.D. and Smith, V. (2014) Rethinking Housing Bubbles: The Role of Household and Bank Balance Sheets in Modeling Economic Cycles. Cambridge University Press, Cambridge.
https://doi.org/10.1017/CBO9780511979194

has been cited by the following article:

• TITLE: The Taylor Rule and the Sandpile: The Taylor Contribution and Other Matters

  AUTHORS: Juan L. Valderrábano López, Miguel A. Alonso Neira

  KEYWORDS: Taylor Rule, Sandpile, Weak Chaos

  JOURNAL NAME: Open Journal of Modelling and Simulation, Vol.5 No.4, August 10, 2017

  ABSTRACT: The author of the Taylor Rule has provided new evidence about the application of the Sandpile model to his rule. The same findings of the Sandpile model are described in the Taylor paper in agreement with the conclusions of the Sandpile model. That is, that keeping interest rates too low for too long penalizes the economic recovery. On top of that the Sandpile also provides a metric for the severity of the crisis. The same law (Power Law) applies to the size and the duration of the crisis just modifying the order of the distribution paving thus a way for measuring the size of the crisis. According to the NBER data, the length is already determined for the US crisis, if the model holds on, we can also assess the severity.