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Dynamic calibration of a CGE-model with a demographic application

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The paper introduces a methodology developed to perform dynamic calibration of Statistics Denmark's dynamic computable generel equilibrium model, DREAM. To illustrate the technique, the paper briefly discusses an example of an application, namely analyzing the economic consequences of the future development of the Danish population. An important aspect of this is the so-called aging problem. The analysis is carried out under different assumptions concerning financing schemes and announcement of policy responses. The outcomes differ markedly as to whether the policy responses stimulate the incentives to save and to provide for the old age, or not.

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  • Martin B. Knudsen & Lars Haagen Pedersen & Toke Ward Pedersen & Peter Stephensen & Peter Trier, 1998. "Dynamic calibration of a CGE-model with a demographic application," DREAM Working Paper Series 199802, Danish Rational Economic Agents Model, DREAM.
    • Handle: RePEc:dra:wpaper:199802
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    File URL: http://www.dreammodel.dk/pdf/W19981001.pdf
    File Function: First version, 1998
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    Cited by:

    1. Masahiro Kawai & Fan Zhai, 2010. "Asia’s Post-Global Financial Crisis Adjustment : A Model-Based Dynamic Scenario Analysis," Finance Working Papers 23055, East Asian Bureau of Economic Research.
    2. Daniel Piazalo, 2000. "Poland's Membership in the European Union: An Analysis with a Dynamic Computable General Equilibrium (CGE) Model," LICOS Discussion Papers 8900, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
    3. Rasmussen, Tobias N. & Rutherford, Thomas F., 2004. "Modeling overlapping generations in a complementarity format," Journal of Economic Dynamics and Control, Elsevier, vol. 28(7), pages 1383-1409, April.

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