An Agent-Based Microsimulation Model About The Effect Of Monetary Policy

The basis theoretical of the neoclassical economics is the perfect rationality hypothesis of the economic agent's behavior and equilibrium hypothesis of the economic system. Because of the oversimplification of the economic agent's behavior and economic system, economist applied mathematical models to derive the economic analysis results. But these mathematical models can only delineate the outline on the whole which presents real economy. At the same time, Micro-economy is the foundation of macro-economy; while macro-economy restricts and influences micro-economy. The model that the traditional analysis on macro-economy generally adopts is the total amount analysis or the typical individual analysis. They either fail to analyze the individual behavior, or neglect the difference between the individuals. Therefore they result in these separations of micro-economic analysis and macroeconomic analysis.As the development of computation technology, people try to do their reach work about economy on compute by simulation experiments. To get over the problem, micro-simulation research, which simulates the whole economy by totalizing the actions at microscopic level in the economy and tries to understand the whole economy, has been taken place. These experiments to get over the border between micro and macro economics are now tried in the field of"economic simulation"and some developments have been made.Furthermore, Modern economist considered economy as a complex adaptive system. The complexity of the economic system results in the bounded rationality of the economic agent while the adaptability of the economic agent results in the evolution of the economic system. Therefore, the theoretical basis of modern economics is bounded rationality of the economic agent and evolutionary of the economic system.The agent-based micro-simulation model of macro-economy is an intelligent micro-simulation model. It emphasizes not only the complexity of the economic system, but also the individual's adaptability. The individual not merely needs to have ability to make flexible response to the environmental change, and need to have the ability of perfecting one's own behavior mode through studying in practice. The individual's constant adaptation of the economic environment leads to the economic system evolves in coordination. The important difference between agent-based micro-simulation models of macro-economy and other macro-economic models lies in that micro-individual does not adopt the"incentive-response"mode, but the mode of participation on one's own...