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Simulating General Equilibria

In: Textbook of Computable General Equilibrium Modelling

Author

Listed:
  • Nobuhiro Hosoe
  • Kenji Gasawa
  • Hideo Hashimoto

Abstract

The purpose of developing CGE models is primarily for policy analysis and evaluation. We simulate various policy options to quantify their impact, and therefore we have to simulate various equilibria by solving the same model under several scenarios involving different assumptions regarding the coefficients and exogenous variables; then, the respective equilibria should be compared to evaluate the assumed policies. At the same time, the robustness of the simulation results must be examined to see whether the results are unreasonably affected by the calibrated parameters and those with the a priori determined values. This chapter consists of two parts. The first part presents an efficient way to conduct comparative statics for policy analyses, and the second part discusses sensitivity analysis in CGE modelling.

Suggested Citation

  • Nobuhiro Hosoe & Kenji Gasawa & Hideo Hashimoto, 2010. "Simulating General Equilibria," Palgrave Macmillan Books, in: Textbook of Computable General Equilibrium Modelling, chapter 8, pages 128-143, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28165-3_8
    DOI: 10.1057/9780230281653_8
    as

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