A Large†Scale Dynamic Multi†Regional Cge Model with an Illustrative Application

James Giesecke and John Madden

Review of Urban & Regional Development Studies, 2003, vol. 15, issue 1, 02-25

Abstract: This paper describes FEDERAL†F, a large†scale general†purpose multiregional computable general equilibrium model. The model is dynamic and can be used for forecasting, policy analysis and historical analysis. Large†scale CGE models are commonly used in Australia and play a central role in policy analysis. In this paper we provide an overview of the core of FEDERAL†F's equations via a stylized representation that expresses the model's equations in functional form. An illustrative application demonstrating the power of the model is undertaken. It demonstrates that a feasible state government fiscal policy to halt Tasmania's declining share of national GDP does not exist.

Date: 2003
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