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Modelling the Regional Economic Consequences of Efficiency Gains in the Utilities Sector

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  • Giesecke, J.
  • Madden, J.R.

    (Centre of Policy Studies, Monash University, Melbourne, VIC)

Abstract

There have been a number of computable general equilibrium (CGE) studies quantifying the economic impact of national competition policy (NCP). They typically involve long-run comparative static simulations with the most important shock being productivity improvements. These improvements are set equal to the productivity gap between relevant Australian industries and overseas counterparts (as measured by such methods as data envelopment analysis). The size of the estimated gaps and the assumption that NCP will eliminate them has been called into question. This paper develops an alternative approach that uses historical modelling with a dynamic multiregional CGE model (FEDERAL-F) to uncover changes, consistent with observed data, in the rate of productivity improvements in the utilities sector have had on the economies of Tasmania and mainland Australia, concentrating in particular on the Tasmanian results.

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Bibliographic Info

Article provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).

Volume (Year): 34 (2004)
Issue (Month): 1 (March)
Pages: 15-35

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Handle: RePEc:eap:articl:v:34:y:2004:i:1:p:15-35

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Keywords: CGE; Computable General Equilibrium; Equilibrium; General Equilibrium; Regional;

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  1. James Giesecke, 2002. "Explaining regional economic performance: An historical application of a dynamic multi-regional CGE model," Papers in Regional Science, Springer, vol. 81(2), pages 247-278.
  2. Jones, Rich & Whalley, John, 1989. "A Canadian regional general equilibrium model and some applications," Journal of Urban Economics, Elsevier, vol. 25(3), pages 368-404, May.
  3. James Giesecke & John R. Madden, 2003. "Regional Labour Market Adjustment to Competition Policy Reforms: A Dynamic CGE Framework for Assessment," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 6(3), pages 409-433, September.
  4. James Giesecke, 2003. "Targeting Regional Output with State Government Fiscal Instruments: a Dynamic Multi-regional CGE Analysis," Australian Economic Papers, Wiley Blackwell, vol. 42(2), pages 214-233, 06.
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