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Agent-Based Modeling and Simulation Validation by Scenario Analysis Read chapter Read first chapter

2013 | OriginalPaper | Chapter

Influence of Government Expenditure Policies and Tax Rate on GDP in an Agent-Based Artificial Economic System

Authors : Shigeaki Ogibayashi, Kousei Takashima

Published in: Agent-Based Approaches in Economic and Social Complex Systems VII

Publisher: Springer Japan

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Abstract

We developed an agent-based model of an artificial economic system that includes government, and we analyzed the influences of public policies on GDP and the related emergent behavior of macroeconomic phenomena. It was revealed that GDP increases with an increase in the ratio of efficient expenditure policy, such as that pertaining to market purchasing. The average price increases (decreases) as GDP increases (decreases), and the influence of tax rate on GDP, depend on the nature of public spending. Most estimation results are found to be quite consistent with real data if it is assumed that public spending includes an inefficiency exceeding 10%.

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previous chapter The Effects of Vaccination Strategies Against Smallpox Bioterrorism with Agent-Based Simulation
next chapter The Role of Social Network in Migration and Economic Aggregation Through a Brownian Agent Model
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Metadata
Title
Influence of Government Expenditure Policies and Tax Rate on GDP in an Agent-Based Artificial Economic System
Authors
Shigeaki Ogibayashi
Kousei Takashima
Copyright Year
2013
Publisher
Springer Japan
Book
Agent-Based Approaches in Economic and Social Complex Systems VII

Print ISBN: 978-4-431-54278-0

Electronic ISBN: 978-4-431-54279-7

Copyright Year: 2013

DOI
https://doi.org/10.1007/978-4-431-54279-7_11

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