Emergence and stability of key currency in artificial international trade
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.
key currency international trade multiple market model agent-based simulation economic system simulation