Study on the Influential Factors of Business Cycle and GDP in Multi-Agent Simulation of an Artificial Economic System Composed of Consumers, Producers and a Bank

Abstract

The authors have previously presented an Agent-Based Model of macroeconomic system composed of three types of producers, consumers and a bank and revealed that calculated artificial system showed realistic behavior of economic system such as fund circulation, business cycle and self-adjusting mechanism of price, production and investment, etc. This study present a revised version of the previous model where input-output table and GDP can be calculated. The influences of various factors on the calculated business cycle and GDP are analyzed based on the present model.