Introduction to computable general equilibrium models mary e burfisher this book provides an accessible, undergraduatelevel introduction to computable general equilibrium cge models, a class of model that has come to play an important role in government policy. This advanced textbook aims at providing a simple but fully operational introduction to applied general equilibrium. The models in the gams model library have been selected because they represent interesting and sometimes classic problems. A computable general equilibrium cge model is a distinctive kind of economic model. Introduction to computable general equilibrium models by. Both the modeling arguments and the simulations indicate that setting spatial policies for the control of longrun density patterns of cities is benecial strategy. Part ii continues analysis and shows application of cge model to a specific case study. The new generation of computable general equilibrium models. Elements of a computable general equilibrium model 16 sets 17. Finally, part i of this book discusses one of the most useful methods of examining economic consequences of being wto member, namely computable general equilibrium cge models. Jan 01, 2002 the purpose of this manual is to contribute to and facilitate the use of computable general equilibrium cge models in the analysis of issues related to food policy in developing countries.
Since the beginning of the 1990s, cge modeling has been widely used for analysis of environmental policy and natural resource management issues. Nov 14, 2012 buy handbook of computable general equilibrium modeling handbooks in economics. The purpose of this manual is to contribute to and facilitate the use of computable general equilibrium cge models in the analysis of issues related to food policy in developing countries. It is grounded in the fundamentals of microeconomics. Purchase handbook of computable general equilibrium modeling, volume 1a1b 1st. Jul 14, 2018 compared to other cge models, this model had a special focus on tax policy. Economics, mathematics, econometrics and mathematical methods. The essence of economics lies in the fact that resources are scarce, or at least limited, and that not all human needs and desires can be met. Abstractwe use a computable general equilibrium cge model to investigate impacts of three exogenous shocks to alaska fisheries. Computable general equilibrium modeling and gtap general equilibrium, which dates back to leon walras 18341910, is one of the crowning intellectual achievements of economics. The latter scenario reflects actual industry trends between 2004 and 2008. This book provides an accessible, undergraduatelevel introduction to computable general equilibrium cge models, a class of model that has come to play an important role in government policy decisions. An introduction to computable general equilibrium modeling. Cge and macroeconometric economic models chris murphy.
Dec 04, 2012 presents coherent summaries of cge theories that inform major model typescovers the construction of cge databases, model solving, and computerassisted interpretation of resultsshows how cge modeling has made a contribution to economic policy. It seeks to provide leadership in understanding scientific, economic, and ecological aspects of this difficult issue, and combining them into policy. Introduction to computable general equilibrium models. Purchase handbook of computable general equilibrium modeling, volume 1b 1st edition. Statistical inference for computable general equilibrium. Simulating corporate income tax reform proposals with a dynamic cge model opinion leaders and policy makers in the united states have turned their focus to the corporate income tax, which now has the highest statutory rate in the developed world. Compared to other cge models, this model had a special focus on tax policy.
The volume includes a detailed presentation of a static standard cge model and its required database and incorporates features of particular. Statistical inference for computable general equilibrium models, with application to a model of the moroccan economy touhami abdelkhalek and jeanmarie dufour posted online march, 2006. The book provides a handson introduction to computable general equilibrium cge models, with a graphical treatment of economic theory and. Prepared for the international handbook of energy economics abstract this chapter is a simple, rigorous, practicallyoriented exposition of computable general equilibrium cge modeling.
Textbook of computable general equilibrium modeling. A computable general equilibrium model cge simulation brazil remains a fairly closed economy, with small trade flows relative to its share of world income. General equilibrium is the backbone of modern economic analysis and as such generation after generation of economics students are introduced to it. Computable general equilibrium cge models are widely used by governmental organizations and academic institutions to analyze the economywide effects of events such as climate change, tax policies, and immigration. Simulating corporate income tax reform proposals with a. Theory and policy by steve suranovic saylor foundation, 2010 this text presents numerous models in some detail, not by employing advanced mathematics, but rather by a detailed description of how a model s assumptions influence its conclusions. Computable general equilibrium cge modeling is an attempt to use general equilibrium theory as a tool for analysis of resource allocation and income distribution issues in market economies. Examples of problems included in the library are production and shipment by firms, investment planning, cropping patterns in agriculture, operation of oil refineries and petrochemical plants, macroeconomics stabilization. If you would like to add a books to this list, please email jeremy douglas. Sage is a cge model of the united states economy developed to aid in the analysis of environmental regulations and policies. List of books and articles about economic modeling online. This book discusses computable general equilibrium models, their use for the analysis of economic policies, and their properties and implications. Application of computable general equilibrium cge to.
A cge model consists of equations describing model variables. Lecture 2 overview of cge modeling university of california. The book provides intuitive and graphical explanations of the economic theory that underlies a cge model and includes many examples and handson. Introduction to computable general equilibrium models 1 economic models, economists toys 1 what is a computable general equilibrium model. Handbook of computable general equilibrium modeling. The volume includes a detailed presentation of a static standard cge model and its required database and incorporates features of particular importance in. Purchase handbook of computable general equilibrium modeling, volume 1a1b 1st edition. Introduction to computable general equilibrium models by mary e. Economic models 1 the cge model the computable general equilibrium cge.
A good introduction to the implementation of a largescale cge model in gempack is. As a multisector model, cge is based on real world data of. Introduction to computable general equilibrium models request. Buy handbook of computable general equilibrium modeling handbooks in economics. How remittances became a development tool by matt bakker university of california press, 2015 matt bakker examines how migrant remittances the resources of some of the worlds least affluent people have come to be seen in recent years as a fundamental contributor to development in the migrant sending states.
A standard computable general equilibrium cge model in. The general algebraic framework of a cge model is developed from microeconomic fundamentals, and employed to illustrate i how a model may be calibrated using the economic data in a social accounting matrix, ii how the resulting system of numerical. To ensure that the model is consistent and you have not made errors in coding, in general your first step. Peter bishop dixon ao fassa born 23 july 1946 is an australian economist known for his work in general equilibrium theory and computable general equilibrium models. List of books and articles about economic modeling.
Impacts on endogenous output, employment, factor income. The general algebraic framework of a cge model is developed from microeconomic fundamentals, and employed to illustrate i how a model may be cali. He has published several books and more than two hundred academic papers on economic modelling and economic policy analysis. The book uses a graphical approach to explain the economic theory that underlies a cge model, and provides results from simple, smallscale cge models to illustrate the links between theory and model outcomes. He is a cofounder and scientific committee member of the italian association of development economists and also a member of the scientific committee of the italian center for. Popular cge books and articles the following books and articles have been recommended as good books in the field of cge modeling. For researching these areas, this book focuses on substitution possibilities. The book uses a graphical approach to explain the economic theory that underlies a cge model, and provides results from simple, smallscale cge models to. A cge model simulates the working of a market economy in which prices and quantities adjust to clear all markets. Energy, economy, and equity interactions in a cge model for. Cge framework encompasses both the io and sam frameworks by making demand and supply of commodities and factors dependent on prices. Computable general equilibrium cge models are a class of economic models that use actual economic data to estimate how an economy might react to changes in policy, technology or other external factors. It recognizes that there are many markets and that they interact in complex ways so that loosely speaking, everything depends on everything else. Monash models are represented as linear systems of the form.
Students will learn how the models connect with the real world. Theoretical studies related to the wto activities are also presented. Fifth, using 1997 as the benchmark year allowed us to include actual trends for the 19982002. The data requirements used to construct a cge model are small when compared to the number of model parameters calibration. Mit joint program on the science and policy of global change. Examples of problems included in the library are production and shipment by firms, investment planning, cropping patterns in agriculture, operation of oil refineries and petrochemical plants, macroeconomics stabilization, applied general equilibrium, international trade in. Calibration, solution and validation of the cge model 193 of the sam was entirely available for 1997. Katie larsen, and brice nichols sponsored by the texas department of transportation the authors appreciate all the contributions to this research of multiple individuals.
The book provides a comprehensive atoz guide for computable general equilibrium cge models, which can analyze various economic issues empirically. This book provides a practical, howto guide to cge models suitable for use at the undergraduate college level. The computable general equilibrium cge model a cge model is a computerbased simulation which makes use of a system of equations that describe the whole economy and their sectoral interactions. Introduction computable general equilibrium models 2nd edition. Energy, economy, and equity interactions in a cge model. View essay 2 from mechanical 458 at engineering college.
A standard computable general equilibrium cge model in gams. To link to the entire object, paste this link in email, im or document to embed the entire object, paste this html in website to link to this page, paste this link in email, im or document to embed this page, paste this html in website. Introduction to computable general equilibrium models by mary. Energy, economy, and equity interactions in a cge model for pakistan.
A general equilibrium model of the australian economy, working paper number op93, centre of policy studies, victoria university. He served as head of the department of economics at the university from 2006 to 20 and as director of the doctoral school in law and economics in 20145. Costa rica trade liberalization, fiscal imbalances, and macroeconomic policy. Dynamic modeling and applications in global economic analysis, cambridge university press. Computable general equilibrium models for the analysis of.
Applied general equilibrium an introduction manuel. Cge models are also referred to as age applied general equilibrium models. The new generation of computable general equilibrium. Textbook of computable general equilibrium modelling. The mit joint program on the science and policy of global change is an organization for research, independent policy analysis, and public education in global environmental change. If you would like to add a books to this list, please email jeremy douglas hertel, thomas w. Development of a largescale single us region cge model using implan data. One of the first steps in building capacity has been the development of a new cge model called sage a recursive acronym for sage is an applied general equilibrium model. The exercise of embedding urban economies in a cge framework is operationalized on the u. This paper explores the effects of three possible policy reforms to strengthen brazils integration into global trade. Farzana naqvi first published in 1997, naqvi provides a sophisticate model of pakistans economy and study of energy pricing issues. Everyday low prices and free delivery on eligible orders.
281 549 525 979 373 99 1342 1342 134 158 642 614 1536 1003 1065 394 1326 1137 662 875 832 1049 1253 1357 1242 38 1366 390 266 281 384