Analysis of Exchange Rate Scenarios Using an Artificial Market Approach
نویسندگان
چکیده
In this study we used a new agent-based approach, an artificial market approach, to support decision-making of exchange rate policies. We first interviewed a dealer and found that the features of dealer interaction in learning were similar to features of genetic operations in biology. Next we constructed an artificial market model using a Genetic Algorithm by regarding the market as a multi-agent system. Finally, using the computer simulation of the model, several strategic scenarios of rate policies were compared. As a result, it was found that intervention and the control of interest rates were effective on the stabilization of yen-dollar rates in 1998.
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تاریخ انتشار 1999