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Multi-regional Dynamic General Equilibrium Modeling of the U.S. Economy

USAGE-TERM Development and Applications

  • Book
  • © 2017

Overview

Editors:
  1. Glyn Wittwer

    1. Centre of Policy Studies, Victoria University, Melbourne, Australia

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  • The book documents a model with a unique amount of detail on economy-wide and regional US economic activity
  • Details are presented on how national accounts and other statistical data are modified to prepare a multi-regional CGE model
  • Tailored modifications within the described model include sectors to depict domestic and international tourism and holiday-making at home and abroad
  • The volume includes practical applications to major policy issues
  • Includes supplementary material: sn.pub/extras

Part of the book series: Advances in Applied General Equilibrium Modeling (AAGEM)

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Beyond Regional Input–Output Modeling

    • Glyn Wittwer, Janine Dixon, John Madden
    Pages 1-18

  3. Erratum to: Tourism and Transport in a CGE Model and an Illustrative Application

    • Glyn Wittwer
    Pages E1-E1

  5. Potential Household and Fiscal Extensions

    1. Front Matter

      Pages 113-113
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    2. Enhancing the Links Between Income Sources, User Expenditures and Taxes in a CGE Database

      • Janine Dixon
      Pages 115-134

    3. Fiscal Accounts in Regional CGE Modeling

      • John Madden
      Pages 135-149

  6. Model Preparation

    1. Front Matter

      Pages 151-151
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    2. Preparing a Database for Dynamic CGE Modeling

      • Glyn Wittwer
      Pages 153-171

    3. Top-Down Extensions to Represent Counties and Congressional Districts and Moving to Bottom-Up

      • Mark Horridge, Glyn Wittwer
      Pages 173-192

  7. Model Applications

    1. Front Matter

      Pages 193-193
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    2. Modeling California’s Drought

      • Glyn Wittwer
      Pages 195-210

    3. The Economic Effects of a Hypothetical Nuclear Attack on Downtown LA

      • Peter B. Dixon, Maureen T. Rimmer, Glyn Wittwer
      Pages 211-227

  8. Back Matter

    Pages 229-236
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Keywords

About this book

This book details the preparation of USAGE-TERM, a computable general equilibrium model that provides regional economic detail in the USA. The model can represent either congressional district or state level economic activity. The latter may include a top-down representation of county activity. Interest in USAGE-TERM is growing among government departments. It is a practical tool, which may enhance analysis of productivity growth and innovation, adverse events such as drought or civil disruption and the dynamic economic impacts of major projects.
Economic analysts and policy makers care about regions. Some regions suffer growing pains, as supporting infrastructure and services struggle to cope with population growth. Soaring house prices and rentals may lower affordability for many. Other regions suffer ongoing decline due to structural change. Regional economic fluctuations are often far more dramatic than national fluctuations. 

Editors and Affiliations

  • Centre of Policy Studies, Victoria University, Melbourne, Australia

    Glyn Wittwer

About the editor

Prof. Glyn Wittwer is a regional dynamic CGE modeling expert. He has played a major role with Mark Horridge in developing databases for TERM versions in several countries. He edited the Springer volume Economic Modeling of Water (2012) and contributed the majority of chapters in the volume. He has extensive consulting experience. His list of projects includes dynamic, multi-regional CGE modeling in Australia, China and the United States. These includes modeling of the impacts of major dam and transport projects, drought and water trading, flood, hypothetical plant disease scenarios, productivity scenarios, wine tax scenarios, major mine construction projects and industry closures.

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