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Textbook of Computable General Equilibrium Modeling: Programming and Simulations [Pehme köide]

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  • Formaat: Paperback / softback, 235 pages, kõrgus x laius: 216x140 mm, kaal: 3261 g, XIX, 235 p., 1 Paperback / softback
  • Ilmumisaeg: 30-Jun-2010
  • Kirjastus: Palgrave Macmillan
  • ISBN-10: 113748604X
  • ISBN-13: 9781137486042
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Textbook of Computable General Equilibrium Modeling: Programming and SimulationsSuurem pilt
  • Formaat: Paperback / softback, 235 pages, kõrgus x laius: 216x140 mm, kaal: 3261 g, XIX, 235 p., 1 Paperback / softback
  • Ilmumisaeg: 30-Jun-2010
  • Kirjastus: Palgrave Macmillan
  • ISBN-10: 113748604X
  • ISBN-13: 9781137486042
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9781137486042.html
Märksõnad:
Computable General Equilibrium (CGE) models have been widely used for various economic simulations, such as, trade liberalization, environmental problems, and regulatory and tax reforms. CGE models are powerful but tend to be large-scale and, therefore, often difficult to learn.

This book provides a comprehensive A-to-Z guide for CGE models. Focusing on its practical application, readers can learn from the simplest CGE models, and proceed, in a step-by-step manner, to database construction, programming for computation, and developing more elaborated CGE models, which can be applied empirically to actual simulation purposes. Particular emphasis is placed on computer programs of CGE models. Readers can obtain knowledge and skills from which they can develop and operate their own CGE models, and apply them to their research.

This book is essential reading for all interested in computational economics, advanced macroeconomics, international trade, regional development, development economics.

Abbreviations x
Symbols in CGE Models xii
Tables, Figures and Lists
xv
Preface xviii
1 Overview
1(12)
1.1 Economic analysis with computable general equilibrium models
1(2)
1.2 Framework of CGE models
3(2)
1.3 Advantages and shortcomings of CGE models
5(1)
1.4 Applications of CGE models
6(1)
1.5 Aims of this book
6(2)
1.6 Software and simulations on the PC
8(2)
1.7 Structure of this textbook
10(3)
2 The Simple CGE Model
13(10)
2.1 Setup of the economy
14(1)
2.2 Household behaviour
15(1)
2.3 Firm behaviour
16(2)
2.4 Market-clearing conditions
18(1)
2.5 Model system
19(4)
3 Computation
23(18)
3.1 Example: the `household utility maximization model'
23(2)
3.1.1 Formulation of the model
24(1)
3.1.2 Specifying coefficients and exogenous variables
25(1)
3.2 Computational procedures
25(2)
3.3 Preparing input files
27(9)
3.3.1 Structure of input files and general syntax of GAMS
27(2)
3.3.2 Directives
29(7)
3.4 Results of computation in the output file
36(5)
4 The Social Accounting Matrix
41(20)
4.1 Structure of social accounting matrix
42(5)
4.1.1 Social accounting matrix for the simple CGE model
42(2)
4.1.2 SAM for the standard CGE model
44(3)
4.2 Construction of social accounting matrix
47(3)
4.3 Example: Social accounting matrix for Japan
50(6)
4.4 Consistency among various databases and matrix adjustment for a SAM
56(5)
5 Calibration and Computational Strategy for General Equilibrium
61(26)
5.1 The basic concept of calibration
61(2)
5.2 Value, price and quantity
63(1)
5.3 Calibration procedure -- mathematical manipulation
64(6)
5.3.1 The case without indirect taxes
64(5)
5.3.2 The case with indirect taxes
69(1)
5.4 GAMS programming
70(10)
5.4.1 Programming procedures and an input file
70(3)
5.4.2 Declaration and definition of sets
73(1)
5.4.3 Installation of the SAM
74(1)
5.4.4 Retrieval of data from the SAM
75(1)
5.4.5 Calibration
76(2)
5.4.6 Specifying and solving the CGE model
78(1)
5.4.7 Initial values for numerical computation
78(1)
5.4.8 Uses of lower bounds
79(1)
5.4.9 Choice of numeraire
80(1)
5.5 Solution of the simple CGE model
80(7)
6 The Standard CGE Model
87(35)
6.1 Overview of the standard CGE model
87(2)
6.2 Intermediate inputs
89(3)
6.3 Government
92(1)
6.4 Investment and savings
93(3)
6.4.1 Introduction of investment and savings
93(2)
6.4.2 Modification of household and government behaviour
95(1)
6.5 International trade
96(6)
6.5.1 Small-country assumption and balance of payments
96(1)
6.5.2 Armington's assumption
97(1)
6.5.3 Substitution between imports and domestic goods
98(1)
6.5.4 Transformation between exports and domestic goods
99(3)
6.6 Market-clearing conditions
102(1)
6.7 Model system
103(3)
6.8 GAMS programming
106(16)
6.8.1 Declaration of sets, installation of the SAM and derivation of the initial equilibrium values
112(2)
6.8.2 Calibration
114(4)
6.8.3 Model solution
118(4)
7 Macro Closure
122(6)
7.1 Investment and savings -- macro closure in a closed economy model
123(2)
7.2 Current account balance -- macro closure in an open economy model
125(2)
7.3 Other closure rules
127(1)
8 Simulating General Equilibria
128(16)
8.1 Multiple runs in one input file
129(2)
8.2 Computation of indicators from solved values
131(2)
8.3 Measurement of economic welfare
133(4)
8.4 Sensitivity analysis
137(7)
8.4.1 The concept of sensitivity analysis
137(1)
8.4.2 Example of sensitivity analysis with the standard CGE model
138(1)
8.4.3 Sensitivity analysis with a three-sector model
139(5)
9 Interpretation of Simulation Results
144(14)
9.1 One-sector model
145(8)
9.1.1 A small open economy
145(4)
9.1.2 Impact of import tariffs
149(2)
9.1.3 Impact of transfers from abroad
151(1)
9.1.4 Impact of terms of trade shock
152(1)
9.2 Two-sector model
153(5)
10 Model Extension
158(33)
10.1 Multihousehold model
158(3)
10.2 Large-country model
161(6)
10.3 World trade model
167(9)
10.3.1 Two-country model
167(7)
10.3.2 Multicountry model
174(2)
10.4 Imperfect competition model
176(6)
10.4.1 Monopoly model
176(6)
10.4.2 Oligopoly model
182(1)
10.5 Quantitative restrictions
182(5)
10.6 Increasing-returns-to-scale model
187(4)
11 Concluding Remarks
191(13)
11.1 Extensions inside the CGE models
191(1)
11.2 Extensions outside the CGE models
192(1)
11.3 Concluding remarks for better CGE modelling
193(2)
Appendix I Derivation of Household Demand Functions
195(1)
Appendix II Competitive Equilibrium vs Social Optimum
196(3)
Appendix III Utility Maximization and Lagrange Multipliers
199(1)
Appendix IV Reformulation of a System of Simultaneous Equations into an Optimization Problem
200(2)
Appendix V Leontief-type Function and Optimization
202(2)
Annex A Advanced Uses of GAMS
204(9)
A.1 Set
204(1)
A.1.1 Sequence in a set
204(1)
A.1.2 Alias of a set
204(1)
A.1.3 Subset
205(1)
A.2 Setting values with formula
205(1)
A.3 Large Table data input
206(1)
A.4 Output file
207(1)
A.4.1 Printing variables and constants
207(1)
A.4.2 Suppressing output
208(1)
A.5 Communicating with spreadsheet software
208(5)
A.5.1 Transfer of data in an input file into a spreadsheet
209(2)
A.5.2 Transfer of data from a spreadsheet into a GDX file
211(2)
Annex B How to Cope with Errors and Infeasibilities
213(11)
B.1 Case 1: Compilation error
213(3)
B.2 Case 2: Execution error and Case 3: Solve error
216(4)
B.3 Case 4a: No base run equilibrium solution
220(1)
B.4 Case 4b: No counterfactual equilibrium solution
221(1)
B.5 Case 5: Incorrect solution
222(1)
B.6 Capacity limitation of GAMS
222(2)
Annex C Web Resources
224(2)
References 226(3)
Index 229(5)
GAMS Index 234
NOBUHIRO HOSOE earned a Ph.D. in Economics at Osaka University and has been an associate professor at Japan's National Graduate Institute for Policy Studies since 1999. He has developed computable general equilibrium models and other simulation models to empirically investigate impacts of trade liberalization and regulatory reforms in public utilities.

KENJI GASAWA has been a researcher at Research Institute, National Rehabilitation Center for Persons with Disabilities since 2001. He has analyzed the effects of social security expenditures on social welfare using computable general equilibrium models and other simulation models.

HIDEO HASHIMOTO is Professor Emeritus of Osaka University, and has been engaged in economic analysis of developing countries at the World Bank for more than ten years, using various macroeconomic models. He has also taught development economics at Osaka University