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VATTAGE - A dynamic, applied general equilibrium model of the Finnish economy

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  • Honkatukia, Juha

Abstract

Applied general equilibrium models have become a standard tool for the analysis of structural policies in many countries and international research organisations. Their use has been prompted by both developments in economics, but also on the growing need for quantitative policy analysis. The analysis of actual policy options mandates the use of numerical methods, but there are several other reasons to suggest the use of AGE models in particular. Chief among these is the applicability of models that rely on explicit optimisation on the analysis of welfare impacts of structural policies. It may also be the case that many policy issues are intractable by theoretical models, for example, when the policies concern several sectors of the economy or involve contradicting effects. This report describes the VATTAGE model used in VATT, the Government Institute for Economic Research. The model has been used to study the effects of tax policies and environmental policies on the economy. The model can also be used to study scenarios concerning the driving forces of economic growth and employment. The report contains a full description of the model code and its underlying theory. With the help of examples, it also shows how simulation results can be interpreted.

Suggested Citation

  • Honkatukia, Juha, 2009. "VATTAGE - A dynamic, applied general equilibrium model of the Finnish economy," Research Reports 150, VATT Institute for Economic Research.
    • Handle: RePEc:fer:resrep:150
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    File URL: https://www.doria.fi/handle/10024/148683
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    Citations

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    Cited by:

    1. Kyophilavong, Phouphet & Takamatsu, Shinya & Ko, Jong-Hwan, 2010. "The Impact of Laos’ Accession to the World Trade Organization," Conference papers 331967, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Jouko Kinnunen & Timo Rauhanen & Juha Honkatukia, 2011. "Effects of past and new VAT reforms in Finland," EcoMod2011 3412, EcoMod.
    3. Tamminen, Saara & Tuomaala, Eljas, 2012. "Variation in price and substitution elasticities between sectors – A microdata analysis," Working Papers 34, VATT Institute for Economic Research.
    4. Jussila, Mira & Tamminen, Saara & Kinnunen, Jouko, 2012. "The estimation of LES demand elasticities for CGE models," Working Papers 39, VATT Institute for Economic Research.
    5. Tuominen, Pekka & Forsström, Juha & Honkatukia, Juha, 2013. "Economic effects of energy efficiency improvements in the Finnish building stock," Energy Policy, Elsevier, vol. 52(C), pages 181-189.
    6. Honkatukia, Juha & Marttila, Kimmo, 2011. "The effects of energy taxes on energy consumption in Finland between 1995 and 2004 - An historical analysis using the VATTAGE-model," Research Reports 162, VATT Institute for Economic Research.
    7. Simola, Antti & Perrels, Adriaan & Honkatukia, Juha, 2011. "Extreme weather events in Finland – a dynamic CGE-analysis of economic effects," Conference papers 332099, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    8. Honkatukia, Juha, 2013. "The VATTAGE Regional Model VERM - A Dynamic, Regional, Applied General Equilibrium Model of the Finn," Research Reports 171, VATT Institute for Economic Research.
    9. Dixon, Peter B. & Koopman, Robert B. & Rimmer, Maureen T., 2013. "The MONASH Style of Computable General Equilibrium Modeling: A Framework for Practical Policy Analysis," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 23-103, Elsevier.
    10. Bednar-Friedl, Birgit & Kulmer, Veronika & Schinko, Thomas, 2011. "Effects of different EU climate policy scenarios on Austria’s trade and carbon balances," Conference papers 332100, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.

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