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Policy Analysis Using a Computable General Equilibrium Model: A Review of Experience at the IMPACT Project

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  • B. R. Parmenter
  • G. A. Meagher

Abstract

Originally presented at the Fourth International Symposium on Forecasting, London, July 1984, this article reviews the role in policy analysis of the ORANI model of the Australian economy. A schematic description of the model is given. Conceptual issues concerning the use of such models for counterfactual policy analysis and for explicit forecasting are canvassed. A taxonomy is presented of policy applications of ORANI classifying both the policy issues addressed and the range of information obtained from the applications. Details of selected applications are discussed with the aim of illustrating the main themes which arise in policy studies conducted using the model.

Suggested Citation

  • B. R. Parmenter & G. A. Meagher, 1985. "Policy Analysis Using a Computable General Equilibrium Model: A Review of Experience at the IMPACT Project," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 18(1), pages 3-15, March.
    • Handle: RePEc:bla:ausecr:v:18:y:1985:i:1:p:3-15
    DOI: 10.1111/j.1467-8462.1985.tb00475.x
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    References listed on IDEAS

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    1. Warr, P G & Lloyd, P J, 1983. "Do Australian Trade Policies Discriminate against Less Developed Countries?," The Economic Record, The Economic Society of Australia, vol. 59(167), pages 351-364, December.
    2. G.A. Meagher & B.R. Parmenter & R.J. Rimmer & K.W. Clements, 1984. "Special Purpose Versions of a General Purpose Multisectoral Model: Tax Issues and the Australian Wine Industry," Economics Discussion / Working Papers 84-06, The University of Western Australia, Department of Economics.
    3. Dixon, Peter B. & Parmenter, B. R. & Powell, Alan A., 1984. "Trade liberalization and labor market disruption," Journal of Policy Modeling, Elsevier, vol. 6(4), pages 431-454, November.
    4. P. G. Warr & P. J. Lloyd, 1983. "Do Australian Trade Policies Discriminate Against Less Developed Countries?," The Economic Record, The Economic Society of Australia, vol. 59(4), pages 351-364, December.
    5. Richard Harris, 1984. "Market Structure and Trade Liberalization: A General Equilibrium Assessment," Working Paper 584, Economics Department, Queen's University.
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    Cited by:

    1. Meagher, G.A. & Parmenter, B.R. & Rimmer, R.J. & Clements, Kenneth W., 1985. "ORANI-WINE: Tax Issues and the Australian Wine Industry," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 53(02), pages 1-16, August.
    2. G. A. Meagher & Nisha Agrawal, 1986. "Taxation Reform and Income Distribution in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 19(3), pages 33-56, September.
    3. A. R. Pagan & J. H. Shannon, 1987. "How Reliable are ORANI Conclusions?," The Economic Record, The Economic Society of Australia, vol. 63(1), pages 33-45, March.
    4. Erwin L. Corong & J. Mark Horridge, 2012. "PHILGEM: A SAM-based Computable General Equilibrium Model of the Philippines," Centre of Policy Studies/IMPACT Centre Working Papers g-227, Victoria University, Centre of Policy Studies/IMPACT Centre.
    5. Mark Horridge, 2000. "ORANI-G: A General Equilibrium Model of the Australian Economy," Centre of Policy Studies/IMPACT Centre Working Papers op-93, Victoria University, Centre of Policy Studies/IMPACT Centre.
    6. Anthony Letsoalo & James Blignaut & Theuns de Wet & Martin de Wit & Sebastiaan Hess & Richard S.J. Tol & Jan van Heerden, 2005. "Triple Dividends Of Water Consumption Charges In South Africa," Working Papers FNU-62, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2005.

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