Stability of the market in the international trade model introduced foreign exchange agents: medieval times model of world trade league

摘要

In this research we take up the key currency as an important factor of considering world economy and international trade. We propose an international trade model with the currency credibility as a criterion of selection of the payment method, and construct artificial international trade markets. In proposed model, we observe the process of emergence of key currency. In the simulation, we mushier how the behavior of market would change, by altering combination of agents. The results of simulations show that the agents, which deal in currencies for speculation, not only stabilize currency exchange rate hut also stabilize market price and trading volume.