WP 2011-1 CGE Applications in Development Economics

Lance Taylor

No 2011-1, SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: This paper begins with an informal history of developing country CGE models, going on to specification and closure, and finally describes a few models with financial extensions. Sectoral detail is central to CGE analysis, but after an initial sketch of an n-sector system most of the discussion focuses on the models' "closures" or patterns of macroeconomic causality, because they strongly influence their sectoral results. Particular attention is paid to the ways in which international trade and financial flows are fitted into applied models.

Keywords: development; developing countries; CGE models; international trade; financial flows; sector (search for similar items in EconPapers)
Pages: 54 pages
Date: 2011-01
New Economics Papers: this item is included in nep-cmp
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