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Optimal policy design: A CGE approach

Author

Listed:
  • Martin Cicowiez
  • Bernard Decaluwé
  • Mustapha Nabli

Abstract

In this paper we extend an existing computable general equilibrium (CGE) model to perform optimal policy design exercises. Specifically, to an otherwise standard CGE model, we add an objective function that allows us to compute optimal values for selected policy variables. In turn, the CGE model operates as the constraint of the optimization problem. In addition, we illustrate the usefulness of the proposed approach to optimal policy design. For this purpose, we develop an exercise with real data from Argentina.

Suggested Citation

  • Martin Cicowiez & Bernard Decaluwé & Mustapha Nabli, 2017. "Optimal policy design: A CGE approach," Working Papers MPIA 2017-07, PEP-MPIA.
    • Handle: RePEc:lvl:mpiacr:2017-07
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    File URL: https://portal.pep-net.org/documents/download/id/30220
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    Cited by:

    1. Asiya Maskaeva & Joel Mmasa & Nicodemas Lema & Mgeni Msafiri, 2019. "The Impact of Fiscal Policy on Income Distribution in Tanzania: A Computable General Equilibrium Analysis," Working Papers MPIA 2019-07, PEP-MPIA.

    More about this item

    Keywords

    Computable General Equilibrium; Optimal Policy Design;

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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