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Economic Development

In: Nonlinear Optimization Applications Using the GAMS Technology

Author

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  • Neculai Andrei

    (National Research Institute for Informatics
    Academy of Romanian Scientists)

Abstract

In this chapter we present two economic development applications using the GAMS technology. The first one is the elementary Ramsey growth model, and the second one is a small linear dynamic macroeconomic model of the U.S. economy, developed by Kendrick (1982), in which both monetary and fiscal policy variables are used. It is worth noting that the initial research and development of GAMS was considered by a large economic modeling group at the World Bank. They produced impressive research and results to solve multisectoral economywide models and large simulation and optimization models in, for example, agriculture, steel, fertilizer, power, water management, general equilibrium, economic growth, market equilibrium, and activity analysis. Some worked out examples in dynamic optimization; analytic and numeric methods using the GAMS technology are presented in Cretegny and Rutherford (2004).

Suggested Citation

  • Neculai Andrei, 2013. "Economic Development," Springer Optimization and Its Applications, in: Nonlinear Optimization Applications Using the GAMS Technology, edition 127, chapter 0, pages 247-258, Springer.
    • Handle: RePEc:spr:spochp:978-1-4614-6797-7_9
    DOI: 10.1007/978-1-4614-6797-7_9
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