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A Large-Scale Dynamic Multi-Regional CGE Model with an Illustrative Application

James Giesecke and John Madden ()

Chapter 6 in Computable General Equilibrium Approaches in Urban and Regional Policy Studies, 2006, pp 83-111 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis paper describes FEDERAL-F, a large-scale general-purpose multiregional computable general equilibrium model. The model is dynamic and can be used for forecasting, policy analysis and historical analysis. Large-scale CGE models are commonly used in Australia and play a central role in policy analysis. In this paper, we provide an overview of the core of FEDERAL-F's equations via a stylized representation that expresses the model's equations in functional form. An illustrative application demonstrating the power of the model is undertaken. It demonstrates that a feasible state government fiscal policy to halt Tasmania's declining share of national GDP does not exist.

Keywords: Computable General Equilibrium (CGE) Model; Social Accounting Matrix (SAM); Urban and Regional Policies (or Urban and Regional Policy Evaluation); Each Industry's Market Clearance; Structural and Long-Term Policy Impacts (search for similar items in EconPapers)
JEL-codes: E5 E6 (search for similar items in EconPapers)
Date: 2006
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