Agent-based system for hybrid policy analysis on economy and power consumption in China

Abstract

China has exerted a series of economic policies to cope with domestic and overseas uncertainties, especially the negative shock by financial crisis. Therefore, the primary concern is how these intervention measures affect macroeconomic growth. To address this issue we establish the Monetary and Fiscal Policy Simulation System (MFPSS) to construct microeconomic agents capable of self decision-making and interaction. MFPSS interprets policy effectiveness from top-bottom and bottom-top bidirectional modeling, and exhibits total products results as well as asymmetry among industries. In addition, from the perspective of power industry, the production of electric power sector which is regarded as essential component of national economy is explored.