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An algorithm for sequential solutions of dynamic CGE models with perfect foresight over an infinite numbers of periods

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Author Info
T. Nicolaus Tideman
Florenz Plassmann
Abstract

We describe a simple algorithm that permits the sequential (period-by-period) solution of large-scale dynamic CGE models with agents who have perfect foresight over an infinite number of periods. The algorithm requires neither any assumptions about behavior in a ?final? period nor that the base case economy be currently in steady state. We briefly illustrate the algorithm with an analysis of substituting a flat tax for all income taxes in the United States.

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File URL: ftp://repec.econ.vt.edu/Papers/Tideman/CGEAlgorithm.pdf
File Format: application/pdf
File Function: First version, 2006
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Publisher Info
Paper provided by Virginia Polytechnic Institute and State University, Department of Economics in its series Working Papers with number e07-6.

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Length: 18 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:vpi:wpaper:e07-6

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Postal: Blacksburg, Virginia 24061
Web page: http://www.econ.vt.edu
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Related research
Keywords: Computable General Equilibrium; Perfect Foresight; Rational Expectations;

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  1. Dixon, Peter B. & Pearson, K.R. & Picton, Mark R. & Rimmer, Maureen T., 2005. "Rational expectations for large CGE models: A practical algorithm and a policy application," Economic Modelling, Elsevier, vol. 22(6), pages 1001-1019, December. [Downloadable!] (restricted)
  2. Wendner, Ronald, 1999. "A Calibration Procedure of Dynamic CGE Models for Non-steady State Situations Using GEMPACK," Computational Economics, Springer, vol. 13(3), pages 265-87, June. [Downloadable!]
  3. Blejer, Mario I. & Feldman, Ernesto V. & Feltenstein, Andrew, 2002. "Exogenous shocks, contagion, and bank soundness: a macroeconomic framework," Journal of International Money and Finance, Elsevier, vol. 21(1), pages 33-52, February. [Downloadable!] (restricted)
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This page was last updated on 2009-12-2.

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