An Agent-Based Simulation Model of the Economy: An Empirical Study of Negative Income Tax System in a Transition Economy

Xiang Yu Wan; Peng Jia

doi:10.4028/www.scientific.net/AMR.204-210.718

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 204-210An Agent-Based Simulation Model of the Economy: An...

An Agent-Based Simulation Model of the Economy: An Empirical Study of Negative Income Tax System in a Transition Economy

Abstract:

In this paper, we present an agent-based computer simulation model to analyze the dynamic relationship between economic growth and income difference in a transition economy and to evaluate the empirical effects of negative income tax system. Micro agents in the economy form the economic networks and enable the economy to evolve forward through the intelligential evolutionary system and mutual interactions between the agents. Based on the logical reasons of the transition economy, the model finally gives the results of the simulation: when the economy finishes rapid transition and enters into stable development, by implementing negative income tax system, government can effectively decrease income difference while at the same time maintain rapid economic growth.

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Periodical:

Advanced Materials Research (Volumes 204-210)

Pages:

718-723

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.204-210.718

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Online since:

February 2011

Authors:

Xiang Yu Wan, Peng Jia

Keywords:

Agent-Based Simulation, Economic Growth, Negative Income Tax, Transition Economy

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