Costs and Benefits of Incorporating Asset Markets into CGE Models: Evidence and Design Issues.

This paper discusses how a consistent treatment of asset markets may be integrated into standard trade-focussed CGE models. Starting from a core specification of the real economy, calibrated to data for Zambia in the mid-1990s, the paper examines the properties of a hierarchy of models which differ only in the specification of asset markets but subject to a common (negative) temporary fiscal shock.

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Year of publication:	1998
Authors:	Adam, C.S. ; Bevan, D.L.
Institutions:	Department of Economics, Oxford University
Subject:	GENERAL EQUILIBRIUM \| FINANCIAL MARKET \| ECONOMIC MODELS

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Series:	Economics Series Working Papers.
Type of publication:	Book / Working Paper
Notes:	31 pages
Classification:	G10 - General Financial Markets. General ; D58 - Computable and Other Applied General Equilibrium Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004970295