Simulating General Equilibria

Nobuhiro Hosoe, Kenji Gasawa and Hideo Hashimoto

Chapter 8 in Textbook of Computable General Equilibrium Modelling, 2010, pp 128-143 from Palgrave Macmillan

Abstract: Abstract The purpose of developing CGE models is primarily for policy analysis and evaluation. We simulate various policy options to quantify their impact, and therefore we have to simulate various equilibria by solving the same model under several scenarios involving different assumptions regarding the coefficients and exogenous variables; then, the respective equilibria should be compared to evaluate the assumed policies. At the same time, the robustness of the simulation results must be examined to see whether the results are unreasonably affected by the calibrated parameters and those with the a priori determined values. This chapter consists of two parts. The first part presents an efficient way to conduct comparative statics for policy analyses, and the second part discusses sensitivity analysis in CGE modelling.

Keywords: Exogenous Variable; Utility Level; Computable General Equilibrium; Expenditure Function; Computable General Equilibrium Modelling (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28165-3_8

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DOI: 10.1057/9780230281653_8

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