Approaches to the Dynamization of the CGE Model Applied to the Czech Republic

Zuzana Křístková

Emerging Markets Finance and Trade, 2010, vol. 46, issue 0, 59-82

Abstract: In this study, two approaches to the recursive dynamization of a computable general equilibrium (CGE) model are applied. Simulations show that the application of Tobin's q investment function leads to a more dynamic capital stock formation accompanied by higher growth of gross domestic product compared to more moderate projections under a linear investment scenario. The study also shows that the Tobin q scenario provides projections that are more consistent with the historical growth rates of investments in the Czech Republic.

Keywords: CGE model; Czech Republic; dynamization; investments; Tobin's q function (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:46:y:2010:i:0:p:59-82

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