Visual Economic Modelling System (VEMS) for Computable General Equilibrium Models

Nico Vellinga ()
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Nico Vellinga: Hendyplan Luxembourg

Computational Economics, 2018, vol. 51, issue 4, No 16, 1097-1121

Abstract: Abstract By using a graphical user interface of the software tool Visual Economic Modelling System (VEMS) a modeller can set up a computable general equilibrium model by specifying the various stocks and the flows between them. VEMS generates the corresponding social accounting matrix, the equations of the model, the equations for carrying out the calibration and is capable of performing simulations. The tool is build using Microsoft Visual Basic with an object oriented approach. GAMS is the tool in the background for solving each of the models. GAMS is also used for (partly) calibrating the model and a Prolog program can also be used for the calibration. Static and dynamic (backward and forward-looking) models can be generated. The models are written using the GAMS syntax. There are NLP, MCP, MCP $$^{+}$$ + and MPSGE versions of the model. VEMS is a prototype and needs further development. One obvious application of it would be as an educational tool for economic modellers.

Keywords: Computable general equilibrium model; Object oriented programming; Graphical user interface (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/s10614-017-9659-7

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