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Modelling Sustainability in a Computable General Equilibrium Framework

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  • Carraro, Carlo
  • Lanzi, Elisa
  • Parrado, Ramiro

Abstract

This paper proposes a new tool for the measurement and projection of sustainability: the FEEM Sustainability Index (FEEM SI). This is an innovative measure of sustainability built within a dynamic computable general equilibrium model, the Intertemporal Computable Equilibrium System (ICES) in its adapted version to assess sustainability ICES SI. The FEEM SI combines indicators on economic, social, and environmental sustainability to construct a unique measure of overall sustainability. Thanks to its construction within a dynamic computable general equilibrium model, the FEEM SI is able to project indicators in time and evaluate sustainability in the future under different economic growth and policy scenarios. With the purpose to illustrate the methodology and highlight its potentials in making sustainability a more operative concept, this paper provides an example of the effects of the introduction of a composite policy aimed at improving overall sustainability and shows how the choices we make today can change our future.

Suggested Citation

  • Carraro, Carlo & Lanzi, Elisa & Parrado, Ramiro, 2010. "Modelling Sustainability in a Computable General Equilibrium Framework," Conference papers 331946, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:331946
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    File URL: https://ageconsearch.umn.edu/record/331946/files/4883.pdf
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    References listed on IDEAS

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    1. Maros Ivanic & Will Martin, 2008. "Implications of higher global food prices for poverty in low‐income countries1," Agricultural Economics, International Association of Agricultural Economists, vol. 39(s1), pages 405-416, November.
    2. repec:hoo:wpaper:e-92-3 is not listed on IDEAS
    3. Matsuyama, Kiminori, 1992. "Agricultural productivity, comparative advantage, and economic growth," Journal of Economic Theory, Elsevier, vol. 58(2), pages 317-334, December.
    4. Will Martin & Julian M. Alston, 1997. "Producer Surplus without Apology? Evaluating Investments in RD," The Economic Record, The Economic Society of Australia, vol. 73(221), pages 146-158, June.
    5. Mark J. Gehlhar & Thomas W. Hertel & Will Martin, 1994. "Economic Growth and the Changing Structure of Trade and Production in the Pacific Rim," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(5), pages 1101-1110.
    6. Ivanic, Maros & Martin, Will, 2008. "Implications of higher global food prices for poverty in low-income countries," Policy Research Working Paper Series 4594, The World Bank.
    Full references (including those not matched with items on IDEAS)

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