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A Modeling System for Applied General Equilibrium Analysis

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Abstract

Numerical modeling in the Arrow-Debreu framework has emerged as a consistent approach for economic analysis. A major disadvantage of the applied general equilibrium (AGE) framework has been the high degree of technical expertise required for formulating and solving these models. This paper describes a micro-computer for AGE modeling. The system, named MPS/GE, combines an efficient solution algorithm with an interactive user-interface. Using MPS/GE, models containing up to 300 prices and activities can be formulated and solved on an IBM PC. This makes AGE modeling accessible to a wider group of policy analysts and educators than was previously the case.

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  • Thomas Rutherford, 1987. "A Modeling System for Applied General Equilibrium Analysis," Cowles Foundation Discussion Papers 836, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:836
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    3. Thomas Rutherford, 1987. "Implementational Issues and Computational Performance Solving Applied General Equilibrium Models with SLCP," Cowles Foundation Discussion Papers 837, Cowles Foundation for Research in Economics, Yale University.
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