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The analytical solution of balanced growth of non-linear dynamic multi-sector economic model

Zhang, Jin Shui - In: Economic Modelling 28 (2011) 1, pp. 410-421

In a one-sector neoclassical dynamic economic growth model, a reasonable ratio of investment to consumption exists, i.e., the “Golden Rule of Consumption”. This study is to extend one-sector neoclassical growth model to a multi-sector one. It is assumed that both the production function and...

Persistent link: https://www.econbiz.de/10011048747

International price transmission in CGE models: How to reconcile econometric evidence and endogenous model response?

Siddig, Khalid; Grethe, Harald - In: Economic Modelling 38 (2014) C, pp. 12-22

Equilibrium (CGE) models. The missing reconciliation among these tools could be due to PTA often being concerned with high … frequency data and short-term adjustment processes, which does not reconcile well with the annual data of CGE analyses …; different research teams in econometric time series analysis and CGE modeling with typically little overlap; and the endogeneity …

Persistent link: https://www.econbiz.de/10010753361

An investigation of issues relating to where energy should enter the production function

Lecca, Patrizio; Swales, Kim; Turner, Karen - In: Economic Modelling 28 (2011) 6, pp. 2832-2841

hierarchical KLEM production function in a computable general equilibrium (CGE) model. The appropriate means of introducing energy … are changes in relative prices. We illustrate our argument by introducing a simple demand shock to a CGE model of the …

Persistent link: https://www.econbiz.de/10010573391

Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?

Lecca, Patrizio; McGregor, Peter G.; Swales, J. Kim - In: Economic Modelling 31 (2013) C, pp. 160-176

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...

Persistent link: https://www.econbiz.de/10010636297

Endogenous current account balances in a world CGE model with international financial assets

Lemelin, André; Robichaud, Véronique; Decaluwé, Bernard - In: Economic Modelling 32 (2013) C, pp. 146-160

This paper presents an applied computable general equilibrium world model with financial assets and endogenous current account, and capital and financial account balances. The capital and financial account equilibrium conditions, rather than exogenous rules, constrain the current account...

Persistent link: https://www.econbiz.de/10010664405

A general equilibrium assessment of external and domestic shocks in Spain

Álvarez-Martínez, María Teresa; Polo, Clemente - In: Economic Modelling 29 (2012) 6, pp. 2486-2493

After many years of growth, the Spanish economy plunged into the most severe and prolonged recession recorded since reliable national accounts data have been available. The main goal of this paper is to quantify the effects of the external and domestic shocks that hit the Spanish economy in...

Persistent link: https://www.econbiz.de/10011048885

Modelling energy and labour linkages: A CGE approach with an application to Iran

AlShehabi, Omar Hesham - In: Economic Modelling 35 (2013) C, pp. 88-98

We develop a unique dynamic CGE model suitable for analysing the policy interrelationships between fuels, crude oil and …

Persistent link: https://www.econbiz.de/10010719380

Wage–productivity differentials and Indian economic efficiency

Sahoo, Amarendra; ten Raa, Thijs - In: Economic Modelling 29 (2012) 2, pp. 341-348

A frontier-general equilibrium analysis with skill transformation evaluates the productivities of skilled and unskilled labor and potential of the Indian economy. We compare the wages of skilled and unskilled labor between 1994 and 2002 with their respective productivities over this period....

Persistent link: https://www.econbiz.de/10011048776

Trade liberalisation and inequalities in Nepal: A CGE analysis

Acharya, Sanjaya; Hölscher, Jens; Perugini, Cristiano - In: Economic Modelling 29 (2012) 6, pp. 2543-2557

In this paper we examine the effects of trade liberalisation on inequality in the small developing country of Nepal. We use a Computable General Equilibrium approach applied to a newly developed social accounting matrix, simulating three liberalisation scenarios: (i) import liberalisation; (ii)...

Persistent link: https://www.econbiz.de/10011048848

Real convergence and its illusions

Kolasa, Marcin - In: Economic Modelling 37 (2014) C, pp. 79-88

This paper uses a multi-country dynamic general equilibrium model to illustrate real convergence processes in a small open catching-up economy. Our results indicate that even if the convergence is driven by smoothly evolving processes, the dynamic adjustments of key macrovariables can be far...

Persistent link: https://www.econbiz.de/10010744029