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A Micro-Macro Model for South Africa: Building and Linking a Microsimulation Model to a CGE Model

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Author Info
Nicolas Hérault (Centre d'Économie du Développement (IFReDE-GRES) Université Montesquieu Bordeaux IV and Melbourne Institute of Applied Economic and Social Research, The University of Melbourne)

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Abstract

This paper describes a newly-built micro-macro model for South Africa. A computable general equilibrium (CGE) model and a microsimulation (MS) model are combined in a sequential approach in order to build an effective tool to assess the effects of various macroeconomic policies and shocks on South African households. The CGE model is used to simulate the macro-changes in the structure of the economy after the policy change or the macro-shock. In a second step, these changes are passed on to the MS model. Micro-macro consistency equations, along with the direct transmission of prices, ensure that macro-changes are fully transmitted from the CGE to the MS model. Given any change in the macroeconomic structure of the economy predicted by the CGE model, the MS model predicts how individual agents modify their behaviours and how their incomes are affected, while accounting for individual heterogeneity.

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Paper provided by Melbourne Institute of Applied Economic and Social Research, The University of Melbourne in its series Melbourne Institute Working Paper Series with number wp2005n16.

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Length: 35 pages
Date of creation: Nov 2005
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Handle: RePEc:iae:iaewps:wp2005n16

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  1. John Cockburn, 2004. "Trade Liberalisation and Poverty in Nepal A Computable General Equilibrium Micro Simulation Analysis," Development and Comp Systems 0409012, EconWPA. [Downloadable!]
  2. repec:pal:imfstp:v:48:y:2001:i:1:p:8 is not listed on IDEAS
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  3. Cathal O'Donoghue, 2001. "Introduction to the Special Issue on Dynamic Microsimulation Modelling," Brazilian Electronic Journal of Economics, Department of Economics, Universidade Federal de Pernambuco, vol. 4(2), December. [Downloadable!]
  4. Thurlow, James & van Seventer, Dirk Ernst, 2002. "A standard computable general equilibrium model for South Africa," TMD discussion papers 100, International Food Policy Research Institute (IFPRI). [Downloadable!]
  5. Decaluwé, Bernard & Dumont, Jean-Christophe & Savard, Luc, 2000. "Measuring Poverty and Inequality in a Computable General Equilibrium Model," Cahiers de recherche 9926, Université Laval - Département d'économique. [Downloadable!]
  6. Servaas van der Berg & Megan Louw, 2003. "Changing Patterns of South African income distribution: Towards time series estimates of distribution and poverty," Working Papers 02/2003, Stellenbosch University, Department of Economics. [Downloadable!]
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  7. Cogneau, Denis & Robilliard, Anne-Sophie, 2000. "Growth, distribution and poverty in Madagascar," TMD discussion papers 61, International Food Policy Research Institute (IFPRI). [Downloadable!]
  8. John Whalley, 2005. "Globalization and Values," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  1. Nicolas Hérault, 2005. "Trade Liberalisation, Poverty and Inequality in South Africa: A CGE-Microsimulation Analysis," Melbourne Institute Working Paper Series wp2005n17, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne. [Downloadable!]
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