Cardenete, Manuel Alejandro, Guerra, Ana-Isabel, Sancho, Ferran
1st Edition, X, 118 p.
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Provides step-by-step procedure for building empirically oriented large-scale economic models
Facilitates quick learning by isolating problems and providing solutions in an incremental manner
Integrates basic modelling tips with data handling to give empirical background to economic models
Software code will be included in text format along the chapters (Required GAMS software available at no cost
Incorporates practical economic policy issues with sensible interpretation of results in terms of micro, macro and welfare indicators
This advanced textbook aims at providing a simple but fully operational introduction to applied general equilibrium. General equilibrium is the backbone of modern economic analysis and as such generation after generation of economics students are introduced to it. As an analytical tool in economics, general equilibrium provides one of the most complete views of an economy since it incorporates all economic agents (households, firms, government, foreign sector) in an integrated way that is compatible with microtheory and microdata. The integration of theory and data handling is required for successful modeling but it requires a double ability that is not found in standard books. With this book we aim at filling the gap and provide advanced students with the required tools, from the building of consistent and applicable general equilibrium models to the interpretation of the results that ensue from the adoption of policies. The topics include: model design, model development, computer code examples, calibration and data adjustments, practical policy examples.
Content Level »Graduate
Keywords »Computable General Equilibrium Models - Empirical Modelling - Fiscal Policy Applications - Social Accounting Matrices