Introduction to Computable General Equilibrium Models

Mary E. Burfisher

• Publisher: Cambridge University Press
• Year: 2021
• Print ISBN: 9781108490085
• eBook ISBN: 9781108806497
• Edition: 3
• Topic: Economics
• Subtopic: Econometrics
• Index: Economics

Computable general equilibrium (CGE) models play an important role in supporting public-policy making on such issues as trade, climate change and taxation. This significantly revised volume, keeping pace with the next-generation standard CGE model, is the only undergraduate-level introduction of its kind. The volume utilizes a graphical approach to explain the economic theory underlying a CGE model, and provides results from simple, small-scale CGE models to illustrate the links between theory and model outcomes. Its eleven hands-on exercises introduce modelling techniques that are applied to real-world economic problems. Students learn how to integrate their separate fields of economic study into a comprehensive, general equilibrium perspective as they develop their skills as producers or consumers of CGE-based analysis.

Table of contents

• Cover
• Half-title page
• Title page
• Copyright page
• Dedication
• Contents
• List of Figures
• List of Tables
• List of Text Boxes
• Acknowledgments
• About This Book
• 1 Introduction to Computable General Equilibrium Models
• 2 Elements of a Computable General Equilibrium Model
• 3 The CGE Model Database
• 4 Final Demand in a CGE Model
• 5 Supply in a CGE Model
• 6 Factors of Production in a CGE Model
• 7 Trade in a CGE Model
• 8 Taxes in a CGE Model
• 9 Regulations in a CGE Model
• 10 Conclusion: Frontiers in CGE Modeling
• Appendix A: Social Accounting Matrix for the United States,2007 $US Billions
• Appendix B: Price and Quantity Variables in a Standard CGE Model
• Appendix C Elasticity Parameters in the GTAP Model
• Appendix D Taxes in the GTAP Model
• Glossary
• References
• Author Index
• Subject Index