Forward looking dynamics in spatial CGE modelling
Forward looking dynamics in spatial CGE modelling
复制标题
空间 CGE 建模的前瞻性动态
DOI:
10.1016/j.econmod.2012.11.031
复制
发表时间:
2013
影响因子:
4.7
通讯作者:
A. Korzhenevych
中科院分区:
文献类型:
--
作者:
J. Bröcker;A. Korzhenevych
This paper sets up a spatial dynamic CGE framework by combining the optimal growth model of saving and investment under adjustment costs and the spatial CGE model with Dixit–Stiglitz structure in the modern sector. Because of increasing product diversity on the dynamic equilibrium path, the model belongs to the category of semi-endogenous growth models. We overcome the difficulty of existing multiregional models to correctly approximate the infinite horizon equilibrium by employing a theoretically consistent terminal condition. The distinction of goods, factors, firms, and households by location, and the incorporation of trade costs in the model allow to study a variety of issues in regional and transport economics. We describe the model calibration and a tailor-made solution algorithm. The functionality is demonstrated using two illustrative examples.