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Simulación de un modelo de equilibrio general computable para Venezuela

Author

Listed:
  • Pedauga, Luis Enrique

    (Universidad de Granada, España)

  • Sáez, Francisco

    (Banco Central de Venezuela)

  • Velázquez, Agustín

    (Banco Central de Venezuela)

Abstract

This paper presents the results of a Computable General Equilibrium model simulation built to Venezuela. The model is exemplified by the calibration and simulation of an open economy with three institutional actors (households, firms and government) and three productive sectors (oil, manufacturing, and others), for an open economy. Different policy rules are considered. In each case it is shown the calibration process and the results of some simulations using data from a Social Accounting Matrix for Venezuela between 1997 and 2005. It is presented the estimation of relevant until 2009 in the parameters and some sensitivity analysis.// Este artículo presenta los resultados de la simulación de un modelo de equilibrio general computable construido para Venezuela. El uso de este modelo se ejemplifica mediante la calibración y simulación de una economía abierta con tres agentes institucionales (hogares, empresas y gobierno) y tres sectores productivos (petróleo, manufactura y resto), para una economía abierta. Se considera diferentes reglas de política. En cada caso se muestra el proceso de calibración y los resultados de las simulaciones utilizando información proveniente de la serie de matrices de contabilidad social para Venezuela entre 1997 y 2005. Se aporta simulaciones de la economía hasta 2009, tanto en los parámetros pertinentes y como algunos ejercicios de sensibilidad.

Suggested Citation

  • Pedauga, Luis Enrique & Sáez, Francisco & Velázquez, Agustín, 2012. "Simulación de un modelo de equilibrio general computable para Venezuela," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(314), pages 415-448, abril-jun.
  • Handle: RePEc:elt:journl:v:79:y:2012:i:314:p:415-448
    DOI: http://dx.doi.org/10.20430/ete.v79i314.148
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    Citations

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    Cited by:

    1. Ramón E. Key-Hernández & Claudina Villarroel, 2014. "Domestic impact of production cuts in OPEC countries: The cases of Nigeria and Venezuela," EcoMod2014 7007, EcoMod.
    2. Alberto Gregorio Castellano Montiel, 2012. "Money demand and currency and asset substitucion in Venezuela: 1997-2008," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 37(34), pages 89-120, july-dece.
    3. Jose Ustorgio Mora Mora, 2015. "A supply and demand model for the Venezuelan economy," Working Papers 14, Faculty of Economics and Management, Pontificia Universidad Javeriana Cali.

    More about this item

    Keywords

    equilibrio general computable; matriz de contabilidad social; elasticidad de Armington;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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