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The Sensitivity Analysis of Applied General Equilibrium Models: Completely Randomized Factorial Sampling Designs


  • Harrison, Glenn W
  • Vinod, H D


The authors propose a method for estimating the population mean of a distribution of solution values from applied general equilibrium models subject to parameter uncertainty. The method is illustrated by demonstrating that the "marginal excess burden" of the U.S. taxation system may be robustly bounded with a high confidence. Copyright 1992 by MIT Press.

Suggested Citation

  • Harrison, Glenn W & Vinod, H D, 1992. "The Sensitivity Analysis of Applied General Equilibrium Models: Completely Randomized Factorial Sampling Designs," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 357-362, May.
  • Handle: RePEc:tpr:restat:v:74:y:1992:i:2:p:357-62

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    References listed on IDEAS

    1. Michael Rothschild, 1971. "On the Cost of Adjustment," The Quarterly Journal of Economics, Oxford University Press, vol. 85(4), pages 605-622.
    2. Hamermesh, Daniel S., 1990. "Aggregate employment dynamics and lumpy adjustment costs," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 33(1), pages 93-129, January.
    3. Robert F. Engle & Ta-Chung Liu, 1972. "Effects of Aggregation Over Time on Dynamic Characteristics of an Econometric Model," NBER Chapters,in: Econometric Models of Cyclical Behavior, Volumes 1 and 2, pages 673-737 National Bureau of Economic Research, Inc.
    4. Card, David, 1986. "Efficient Contracts with Costly Adjustment: Short-run Employment Determination for Airline Mechanics," American Economic Review, American Economic Association, vol. 76(5), pages 1045-1071, December.
    5. P. K. Trivedi, 1985. "Distributed Lags, Aggregation and Compounding: Some Econometric Implications," Review of Economic Studies, Oxford University Press, vol. 52(1), pages 19-35.
    6. Russell Davidson & Richard Harris, 1981. "Non-Convexities in Continuous Time Investment Theory," Review of Economic Studies, Oxford University Press, vol. 48(2), pages 235-253.
    7. Stephen Nickell, 1984. "An Investigation of the Determinants of Manufacturing Employment in the United Kingdom," Review of Economic Studies, Oxford University Press, vol. 51(4), pages 529-557.
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