Dynamic Multi-Sector CGE Modeling -- Reply to Assmann and Hogrefe
AbstractFarmer and Wendner (2004) consider the sensitivity of policy effects, as implied by dynamic multi-sector computable general equilibrium models, with respect to the specification of capital and investment aggregation. They demonstrate that (small) differences in the specification of capital and investment aggregation may yield large differences in the policy effects predicted by dynamic multi-sector computable general equilibrium models. Assmann and Hogrefe, AH in the following, conclude that Farmer and Wendner's (FW) result indeed also holds in different model frameworks. However, they criticize FW's model that is based on the ``puzzling'' value capital approach. Here, FW reply to AH's critique.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 9494.
Date of creation: 07 Jul 2008
Date of revision:
heterogeneous capital; multi-sector CGE; investment aggregation; overlapping generations;
Other versions of this item:
- Wendner, Ronald & Farmer, Karl, 2009. "Dynamic multi-sector CGE modeling: Reply to AÃŸmann and Hogrefe," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 20(1), pages 76-77, March.
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-07-20 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Farmer, Karl & Wendner, Ronald, 2004. "Dynamic multi-sector CGE modeling and the specification of capital," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 15(4), pages 469-492, December.
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