A Hybrid Top-Down, Bottom-Up Regional Computable General Equilibrium Model

Peter J. Higgs, B. R. Parmenter and Russell J. Rimmer
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Peter J. Higgs: IMPACT Project Research Center, University of Melbourne, Victoria 3053 Australia
B. R. Parmenter: Institute of Applied Economic and Social Research, University of Melbourne, Victoria 3052 Australia
Russell J. Rimmer: Department of Information and Numerical Sciences, Victoria College, Victoria 3168 Australia

International Regional Science Review, 1988, vol. 11, issue 3, 317-328

Abstract: This article compares top-down and bottom-up methods for obtaining regional projections for policy analysis using computable general equilibrium models. In view of the computing and data problems of bottom-up, multisectoral models, a hybrid approach is proposed in which a partially regionalized computable general equilibrium model is used to drive a top-down regional equation system. The hybrid avoids some of the serious theoretical shortcomings of the top-down approach but is much less data demanding than a complete bottom-up model. An application, based on the ORANI computable general equilibrium model of Australia, is presented with comparative top-down and hybrid results.

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:sae:inrsre:v:11:y:1988:i:3:p:317-328

DOI: 10.1177/016001768801100308

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