Introduction to the Symposium: The Discipline of Applied General Equilibrium

Timothy Kehoe and Edward Prescott

Economic Theory, 1995, vol. 6, issue 1, 11 pages

Abstract: The use of general equilibrium models in applied research imposes a discipline in which model structures can easily be compared and contrasted and model results can be interpreted using a well understood and rigorously developed theoretical framework. These features allow researchers to compare results across modeling efforts and to build on the experience of others in deriving results and formulating questions. This paper first presents a brief critical history of applied general equilibrium analysis. It then summarizes the contributions of eight other papers in this issue.

Date: 1995
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