Abstract
In recent years, many financial planning languages have been developed that contain capabilities for fixed-time interval simula tion. These languages differ from ordinary programming lan guages and from existing simulation languages in that they are much more English-like, produce spread sheet output, and have built-in WHAT IF and other capabilities for sensitivity analysis. These languages are simple, easy to learn, and easy to use to com municate with other professionals and with managers.
This paper describes the capabilities of one of these languages, the Interactive Financial Planning System (IFPS), for simulation. These capabilities include, among others, the means for gener ating probability distributions and scenarios, providing statistical outputs as a function of time, and graphical presentation of out put distributions. Typical models written in this language are used for illustration.
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