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Applied General Equilibrium Models

Applied General Equilibrium Models - Trade Theory in Computable General Equilibrium Models: Armington, Krugman and Melitz (Advances in Applied General Equilibrium Modeling)
Trade Theory in Computable General Equilibrium Models: Armington, Krugman and Melitz (Advances in Applied General Equilibrium

Applied General Equilibrium Models

This book is for people who want to understand modern trade theory, particularly the Melitz model. It lays out Melitz theory from first principles and relates it to earlier theories of Armington and Krugman. For trade theory specialists, the book produces some significant conclusions. It identifies conditions under which Krugman and Melitz models produce essentially the same results for the welfare effects of trade liberalization as those obtained from Armington, and conditions under which this is not true. These findings will be of interest to academics and policy advisors who need to understand critiques of Armington by proponents of Krugman and Melitz.For computable general equilibrium (CGE) modelers, the book shows how Melitz-style CGE models can be calibrated, solved and interpreted. A major practical contribution of the book is to show how large-scale Armington models such as GTAP can be converted to Melitz by the addition of a small number of equations and minimal alteration of the original Armington model.The book describes computational experience in solving Melitz CGE models using GEMPACK software. This experience will be of interest to researchers currently attempting to solve Melitz-based CGE models. Almost all previous Melitz studies have used GAMS software.  Author...

    • ASIN: 9811083231
    • Part No: 31320513
    Applied General Equilibrium Models - The New Generation of Computable General Equilibrium Models: Modeling the Economy
    The New Generation of Computable General Equilibrium Models: Modeling the

    Applied General Equilibrium Models

    This book covers some important topics in the construction of computable general equilibrium (CGE) models and examines use of these models for the analysis of economic policies, their properties, and their implications. Readers will find explanation and discussion of the theoretical structure and practical application of several model typologies, including dynamic, stochastic, micro-macro, and simulation models, as well as different closure rules and policy experiments. The presentation of applications to various country and problem-specific case studies serves to provide an informed and clearly articulated summary of the state of the art and the most important methodological advancements in the field of policy modeling within the framework of general equilibrium analysis. The book is an outcome of a recent workshop of the Italian Development Economists Association attended by a group of leading practitioners involved in the generation of CGE models and research on modeling the economy and policy making. It will be of interest to researchers, professional economists, graduate students, and knowledgeable policy makers. 

      • ASIN: 3319585320
      • Part No: 28898648
      Applied General Equilibrium Models - Bayesian Estimation of DSGE Models (The Econometric and Tinbergen Institutes Lectures)
      Bayesian Estimation of DSGE Models (The Econometric and Tinbergen Institutes

      Applied General Equilibrium Models

      Dynamic stochastic general equilibrium (DSGE) models have become one of the workhorses of modern macroeconomics and are extensively used for academic research as well as forecasting and policy analysis at central banks. This book introduces readers to state-of-the-art computational techniques used in the Bayesian analysis of DSGE models. The book covers Markov chain Monte Carlo techniques for linearized DSGE models, novel sequential Monte Carlo methods that can be used for parameter inference, and the estimation of nonlinear DSGE models based on particle filter approximations of the likelihood function. The theoretical foundations of the algorithms are discussed in depth, and detailed empirical applications and numerical illustrations are provided. The book also gives invaluable advice on how to tailor these algorithms to specific applications and assess the accuracy and reliability of the computations.Bayesian Estimation of DSGE Models is essential reading for graduate students, academic researchers, and practitioners at policy institutions.

        • Brand: imusti
        • ASIN: 0691161089
        • Part No: 34 line illus. 23 tables.
        Applied General Equilibrium Models - Economy-Wide Modeling of Water at Regional and Global Scales (Advances in Applied General Equilibrium Modeling)
        Economy-Wide Modeling of Water at Regional and Global Scales (Advances in Applied General Equilibrium

        Applied General Equilibrium Models

        This book deals with the economic modelling of water at the global, national and sub-national levels. It presents a multi-faceted analysis and, while it outlines the theories behind various models, its main purpose is to analyse policy issues and present insights arising from modelling, including a chapter analysing the macroeconomic implications of climate change. Arguably the most compelling reason for publishing a book on the economic modelling of water arises from the fact that agriculture accounts for approximately 70% of water used for economic purposes, while only contributing 4% of global income. Given that water is an essential commodity, this discrepancy may in part be symptomatic of an undervaluation of water due to immature and incomplete markets. In turn, this undervaluation has led to an ongoing misallocation of water. When economic models include water accounts that feed into production functions, they model impacts on the marginal product of water. Policies that improve the link between the marginal product and price of water will improve water allocation, while advanced economic models such as those presented here can enhance our ability to explore the possible impacts of improved policy.

          • ASIN: B07NHLS1PK
          Applied General Equilibrium Models - Applied General Equilibrium: An Introduction (Springer Texts in Business and Economics)
          Applied General Equilibrium: An Introduction (Springer Texts in Business and

          Applied General Equilibrium Models

          This book offers a simple, fully operational introduction to applied general equilibrium as an analytical tool in economics. Coverage includes model design, model development, computer code examples, calibration and data adjustments, practical policy examples.

            • ASIN: 3662572133
            Applied General Equilibrium Models - The Structure of Applied General Equilibrium Models
            The Structure of Applied General Equilibrium

            Applied General Equilibrium Models

            General equilibrium and AGE modeling are both active fields of research. Yet the applied model builder often finds the style of theoretical papers inaccessible, while the theoretician hardly recognizes the concepts used in the equations of applied models. The Structure of Applied General Equilibrium Models bridges that gap through a comprehensive analysis of the theoretical underpinnings of the applied models.Chapter 1 of the book provides an overview of the competitive model, and Chapter 2 reviews the standard theory of producer and consumer behavior. Chapter 3 then defines the basic formats used in the following chapters to represent and analyze the models. It discusses the main steps used to construct a numerical application and gives a full GAMS application for the simplest model.The remaining nine chapters present specific models. Topics include international trade, tariffs and quotas, price rigidities, finite-horizon dynamics, infinite-horizon dynamics, externalities, nonconvexities, imperfect competition, and incomplete asset markets. Each chapter covers existence of equilibrium, welfare (and other) properties, and the way applied models incorporate the theoretical concepts.

              • ASIN: 0262571579
              • Part No: A-080-338
              Applied General Equilibrium Models - Handbook of Computable General Equilibrium Modeling, Volume 1A-1B (Handbooks in Economics)
              Handbook of Computable General Equilibrium Modeling, Volume 1A-1B (Handbooks in

              Applied General Equilibrium Models

              Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view.Presents coherent summaries of CGE theories that inform major model typesCovers the construction of CGE databases, model solving, and computer-assisted interpretation of resultsShows how CGE modeling has made a contribution to economic policy

                • Brand: Brand: North Holland
                • ASIN: 0444595686
                Applied General Equilibrium Models - Discrete plant-location decisions in an applied general-equilibrium model of trade liberalization
                Discrete plant-location decisions in an applied general-equilibrium model of trade

                Applied General Equilibrium Models

                This book was digitized and reprinted from the collections of the University of California Libraries. It was produced from digital images created through the libraries’ mass digitization efforts. The digital images were cleaned and prepared for printing through automated processes. Despite the cleaning process, occasional flaws may still be present that were part of the original work itself, or introduced during digitization. This book and hundreds of thousands of others can be found online in the HathiTrust Digital Library at www.hathitrust.org.

                  • ASIN: B009XUA8PK
                  Applied General Equilibrium Models - Game Theory for Applied Economists
                  Game Theory for Applied

                  Applied General Equilibrium Models

                  This book introduces one of the most powerful tools of modern economics to a wide audience: those who will later construct or consume game-theoretic models. Robert Gibbons addresses scholars in applied fields within economics who want a serious and thorough discussion of game theory but who may have found other works overly abstract. Gibbons emphasizes the economic applications of the theory at least as much as the pure theory itself; formal arguments about abstract games play a minor role. The applications illustrate the process of model building--of translating an informal description of a multi-person decision situation into a formal game-theoretic problem to be analyzed. Also, the variety of applications shows that similar issues arise in different areas of economics, and that the same game-theoretic tools can be applied in each setting. In order to emphasize the broad potential scope of the theory, conventional applications from industrial organization have been largely replaced by applications from labor, macro, and other applied fields in economics. The book covers four classes of games, and four corresponding notions of equilibrium: static games of complete information and Nash equilibrium, dynamic games of complete information and subgame-perfect Nash equilibrium, static...

                    • ASIN: 0691003955
                    Applied General Equilibrium Models - Dynamic Models of Oligopoly (Fundamentals of Pure and Applied Economics)
                    Dynamic Models of Oligopoly (Fundamentals of Pure and Applied

                    Applied General Equilibrium Models

                    Fudenberg and Tirole use the game-theoretic issues of information, commitment and timing to provide a realistic approach to oligopoly.

                      • ASIN: 0415771234
                      • Part No: Illustrations

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                      Applied General Equilibrium Models - Popular Video Reviews

                      What is APPLIED GENERAL EQUILIBRIUM? What does APPLIED GENERAL EQUILIBRIUM mean?

                      Applied General Equilibrium Models

                      What is APPLIED GENERAL EQUILIBRIUM? What does APPLIED GENERAL EQUILIBRIUM mean? APPLIED GENERAL EQUILIBRIUM meaning - APPLIED GENERAL EQUILIBRIUM definition - APPLIED GENERAL EQUILIBRIUM explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ li...

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                      Applying an Applied General Equilibrium Approach in Development Economics

                      Applied General Equilibrium Models

                      CFSP Faculty Director Robert M. Townsend discusses why a view of the entire economy is important in considering financial development. He explains that an applied general equilibrium approach can capture details of the inter-relationships among micro and macro levels of the economy.

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                      Tags: Finance,Economics,Development Economics,Poverty (Field Of Study)

                      The Structure of Applied General Equilibrium Models

                      Applied General Equilibrium Models

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