The Computation of Counterfactual Equilibria in Homothetic Walrasian Economies

Donald Brown () and Ravi Kannan ()
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Ravi Kannan: Computer Science, Yale University

No 1426R, Cowles Foundation Discussion Papers from Cowles Foundation, Yale University

Abstract: We propose a nonparametric test for multiple calibration of numerical general equilibrium models, and we present an effective algorithm for computing counterfactual equilibria in homothetic Walrasian economies, where counterfactual equilibria are solutions to the Walrasian inequalities.

Keywords: Applied general equilibrium analysis; Walrasian inequalities; Calibration (search for similar items in EconPapers)
JEL-codes: C63 C68 D51 D58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cmp
Date: 2003-06, Revised 2004-05

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