Computable General Equilibrium Models
Computable General Equilibrium Models
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可计算的一般均衡模型
DOI:
10.1177/089443939000800404
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发表时间:
1990
影响因子:
4.1
通讯作者:
D. Fullerton
中科院分区:
文献类型:
--
作者:
D. Fullerton
It is impractical to test each new pohcy proposal on the real economy, but we can use the computer laboratory to simulate its effects in a modeled economy. If the policy change is similar to previous variations within available data, and if we are interested in partial equilibrium effects, an econometric model can be used to estimate the ceteris paribus or short-run impact of alternative policy scenarios. These models may not be appropriate, however, for a policy change or other exogenous shock that requires extrapolation outside the bounds of existing experience. Examples of such changes include a complete elimination of corporate income taxes, a switch in foreign exchange regimes, the introduction of a wholly new tax or tariff, an oil price shock, or even the economic effects of secular changes in climate. Even for a moderate policy change, we may need to account for multiple indirect effects that reverberate throughout the economy. Computable general equilibrium (CGE) modeling is a technique that can be used to deal with these kinds of economic problems. This terminology generally refers to numerical rather than theoretical general equilibrium models that are large enough to deal with disaggregate resource allocations. These are empirical models that most often use no econometrics. A complete example is elaborated in Ballard, Fullerton, Shoven, and Whalley (1985). The basic strategy of the approach for the relevant policy change is: