Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?
Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?
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DOI：
10.1016/j.econmod.2012.11.010
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发表时间：
2013-03-01
影响因子：
4.7
通讯作者：
Swales, J. Kim
中科院分区：
文献类型：
--
作者：
Lecca, Patrizio;McGregor, Peter G.;Swales, J. Kim
我们提出了一种程式化的跨期前瞻性模型，该模型适应了关键的区域经济特征，而该领域的文献还不够发达。与标准应用程序的主要区别在于储蓄的作用及其对国际收支的影响。尽管保持了代理人的动态前瞻性行为，但私人储蓄率是外生决定的，因此不需要新古典金融调整。此外，我们还重点关注近视模型和前瞻性模型之间的异同，强调主要调整方程和最终模拟结果之间的差异。 (C) 2012 Elsevier B.V. 保留所有权利。
We present a stylized intertemporal forward-looking model that accommodates key regional economic features, an area where the literature is not well developed. The main difference, from the standard applications, is the role of saving and its implication for the balance of payments. Though maintaining dynamic forward-looking behaviour for agents, the rate of private saving is exogenously determined and so no neoclassical financial adjustment is needed. Also, we focus on the similarities and the differences between myopic and forward-looking models, highlighting the divergences amongst the main adjustment equations and the resulting simulation outcomes. (C) 2012 Elsevier B.V. All rights reserved.