Collaborative Research on Applied Equilibrium with Increasing Returns: A Non Parametric Approach

应用一般均衡模型正在成为主要的方法 用于分析家庭、企业、政府 政策和国际经济。 目前有两个 确定一般均衡模型的主要方法 计算平衡值。 这些都是经济计量学规范 和校准。 这两种方法都有一定的缺点，特别是 在测量中存在误差经验应用中。 的 本项目所做的工作将通过使用 非参数方法在指定的一般均衡模型。 该项目避免了与计量经济学相关的困难， 和校准方法，不对形状做任何假设， 误差的分布或精确值。 相反， 的必要条件，以测试是否一组给定的 数据可能是由市场参与者根据 通常的行为假设。 也就是说，公司利润最大化， 消费者最大化效用。 效用存在性检验 函数的推导，并应用于经验数据。 该项目是与罗莎·马茨金教授合作完成的， 耶鲁大学 %%% 在过去的几十年里，各种分析方法， 整体经济得到了发展。 投入产出分析， 线性规划和活动分析一直是 对所有相互关系（企业、消费者和政府）进行建模 在一个经济体中，估计经济将达到的价值， 均衡 这些方法越来越多地让位于一个更 一种基本的方法论，它积极地将行为 个别市场活动的基本假设 参与者 也就是说，消费者被假定为效用最大化 根据数学函数的参数说明 已知的属性。 同样，企业被假定为利润最大化 根据一个数学函数 这种参数化方法的困难在于， 必须对误差的值或分布作出假设 发生在经验数据中。 这个项目克服了这个困难， 导出一组必要条件，以应用于一组 观察经验数据，以测试这些数据是否可能 由具有假定行为属性的模型生成。 因此，这种非参数方法避免了维持 市场行为的参数规范假说 参与者 这些非参数检验提供了一个基本的 为进一步的参数分析提供了理论基础。 该项目是与罗莎·马茨金教授合作完成的， 耶鲁大学

Applied general equilibrium models are becoming the primary method for analyzing the interrelations among households, firms, governmental policy, and the international economy. At present there exist two main methods of specifying general equilibrium models before equilibrium values are computed. These are econometric specification and calibration. Both methods have certain shortcomings, particularly in empirical application where there are errors in measurement. The work done in this project will overcome those difficulties by using a non-parametric approach in specifying the general equilibrium model. This project avoids the difficulties associated with the econometric and calibration methods by making no assumptions about the form, either distributional or exact value, of the errors. Rather, a set of necessary conditions is derived for testing whether a given set of data could have been generated by market participants acting under the usual behavioral assumptions. That is, the firms maximize profit, and the consumers maximize utility. Tests for the existence of utility functions are derived, and applied to the empirical data. This project is done in collaboration with Professor Rosa Matzkin of Yale University. %%% During the past several decades various methods for analyzing the economy in its entirety have been developed. Input-output analysis, linear programming, and activity analysis have been the mainstays for modeling all the interrelationships (firms, consumers, and government) in an economy, and estimating values at which the economy will reach equilibrium. These methods have increasingly given way to a more fundamental methodology which actively incorporates the behavioral assumptions underlying the activities of the individual market participants. That is, the consumers are assumed to maximize utility according to a parametric specification of a mathematical function with known properties. Likewise, firms are assumed to maximize profit according to a mathematical function. The difficulty with this parametric approach is that very strong assumptions must be made about the values or distribution of errors occuring in empirical data. This project overcomes that difficulty by deriving a set of necessary conditions to be applied to a set of observed empirical data to test whether those data could have been generated by a model with the assumed behavioral properties. Therefore, this non-parametric approach avoids the maintained hypothesis of parametric specification for the behavior of the market participants. These non-parametric tests provide a fundamental theoretical basis for further parametric analysis. This project is done in collaboration with Professor Rosa Matzkin of Yale University.