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Flexible Estimation and Inference within General Equilibrium Systems

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  • Francois, Joseph

Abstract

This paper explores estimation of parameters within large general equilibrium models, given limited data availability and without calibration. This leads directly to consideration of possible measures of the robustness of the model vis-à-vis the historical record (as represented by available data series), and the use of specification tests for comparison and testing of different generalequilibrium based theoretic paradigms. Such an approach also offers an opportunity for assessment of general equilibrium effects (like the impact of trade on wages or on the location of industry) currently highlighted in the policy literature.

Suggested Citation

  • Francois, Joseph, 2001. "Flexible Estimation and Inference within General Equilibrium Systems," Conference papers 330929, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:330929
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    File URL: https://ageconsearch.umn.edu/record/330929/files/2613.pdf
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    References listed on IDEAS

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    1. McDougall, Robert A., 1999. "Entropy Theory and RAS are Friends," Working papers 283439, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Golan, Amos & Judge, George & Robinson, Sherman, 1994. "Recovering Information from Incomplete or Partial Multisectoral Economic Data," The Review of Economics and Statistics, MIT Press, vol. 76(3), pages 541-549, August.
    3. McDougall, Robert, 1999. "Entropy Theory and RAS are Friends," GTAP Working Papers 300, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
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