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Solving Applied General Equilibrium Models Represented as a Mixture of Linearized and Levels Equation

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Author Info
W. Jill Harrison
K.R. Pearson
Alan A. Powell
E. John Small

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Abstract

General equilibrium models are usually represented as a system of levels equations (e.g. in North America) or a system of linearized equations (e.g. in Australia). Either representation can be used to obtain accurate solutions. General-purpose software is available in both cases - GAMS or MPS/GE for levels modellers and GEMPACK for linearizers. Some equations (notably accounting identities) are naturally expressed in the levels while others (especially behavioural equations) are naturally expressed in a linearized form. This paper describes the new GEMPACK facility for solving models represented as a mixture of levels and linearized equations and discusses the advantages to modellers of using such a representation.

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Paper provided by Monash University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number ip-61.

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Date of creation: Sep 1993
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Handle: RePEc:cop:wpaper:ip-61

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Mark Horridge, 2000. "ORANI-G: A General Equilibrium Model of the Australian Economy," Centre of Policy Studies/IMPACT Centre Working Papers op-93, Monash University, Centre of Policy Studies/IMPACT Centre. [Downloadable!]
  2. Maureen T. Rimmer & Alan A. Powell, 1992. "An Implicitly Directly Additive Demand System: Estimates for Australia," Centre of Policy Studies/IMPACT Centre Working Papers op-73, Monash University, Centre of Policy Studies/IMPACT Centre. [Downloadable!]
  3. Maureen T. Rimmer & Alan A. Powell, 1992. "Demand Patterns Across the Development Spectrum: Estimates for the AIDADS System," Centre of Policy Studies/IMPACT Centre Working Papers op-75, Monash University, Centre of Policy Studies/IMPACT Centre. [Downloadable!]
  4. Cooper, Russel J & McLaren, Keith R, 1996. "A System of Demand Equations Satisfying Effectively Global Regularity Conditions," The Review of Economics and Statistics, MIT Press, vol. 78(2), pages 359-64, May. [Downloadable!] (restricted)
  5. Hertel, Thomas W. & Mark Horridge, J. & Pearson, K. R., 1992. "Mending the family tree a reconciliation of the linearization and levels schools of AGE modelling," Economic Modelling, Elsevier, vol. 9(4), pages 385-407, October. [Downloadable!] (restricted)
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  6. Russel J. Cooper & Keith R. McLaren, 1992. "An Empirically Oriented Demand System with Improved Regularity Properties," Canadian Journal of Economics, Canadian Economics Association, vol. 25(3), pages 652-68, August. [Downloadable!] (restricted)
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  1. Alan A. Powell & Keith R. McLaren & K.R. Pearson & Maureen Rimmer, 2002. "Cobb-Douglas Utility - Eventually!," Monash Econometrics and Business Statistics Working Papers 12/02, Monash University, Department of Econometrics and Business Statistics. [Downloadable!]
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  2. W. Jill Harrison & K.R. Pearson, 1994. "Multiregional and Intertemporal AGE Modelling via GEMPACK," Centre of Policy Studies/IMPACT Centre Working Papers ip-66, Monash University, Centre of Policy Studies/IMPACT Centre. [Downloadable!]
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