New Generation Computing, 23(2005)13-22
Ohmsha, Ltd. and Springer

Emergence and Stability of Key Currency in Artificial International Trade

Tomohisa YAMASHITA and Koichi KURUMATANI
National Institute of Advanced Industrial Science and Technology
Aomi 2-41-6, Koto-ku, Tokyo 135-0064 Japan
tomohisa@carc.aist.go.jp kurumatani@w-econ.org
Yuichi SASAKI, Hidenori KAWAMURA and Azuma OHUCHI
Hokkaido University
Kita 13 Nishi 8, Kita-ku, Sapporo, Hokkaido 060-8628 Japan
{yuichi,kawamura,ohuchi}@complex.eng.hokudai.ac.jp

Received 29 November 2002

Abstract

In this research, we tackled the emergence and stability of key currency when economic strength countries was equal. We propose an artificial international market model with currency credibility as the standard selected for payment. We constructed multiple markets based on the X-Economy system. Through simulations, we found the possibility that key currency could emerge in a symmetric situation, and market and the specialization of production could be stabilized by foreign exchange trade.

Keywords:Key Currency, International Trade, Multiple Market Model, Agent-based Simulation, Economic System Simulation.

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