Identifying key elasticities in a CGE model: a Monte Carlo approach

Antoine Belgodere and Charles Vellutini

Applied Economics Letters, 2011, vol. 18, issue 17, 1619-1622

Abstract: This article presents a simple Monte Carlo (MC) procedure to improve sensitivity analysis in Computable general equilibrium (CGE) modelling. MC experiments provide the modeller with a population of randomly drawn exogenous parameters and corresponding endogenous outcomes. Standard econometrics can then shed light on the relationship between them and help to identify key parameters, particularly key elasticities.

Keywords: Monte Carlo; elasticities; CGE (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (13)

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DOI: 10.1080/13504851.2011.554366

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