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Solving Applied General Equilibrium Models Represented as a Mixture of Linearized and Levels Equation

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Listed:
  • W. Jill Harrison
  • K.R. Pearson
  • Alan A. Powell
  • E. John Small

Abstract

General equilibrium models are usually represented as a system of levels equations (e.g. in North America) or a system of linearized equations (e.g. in Australia). Either representation can be used to obtain accurate solutions. General-purpose software is available in both cases - GAMS or MPS/GE for levels modellers and GEMPACK for linearizers. Some equations (notably accounting identities) are naturally expressed in the levels while others (especially behavioural equations) are naturally expressed in a linearized form. This paper describes the new GEMPACK facility for solving models represented as a mixture of levels and linearized equations and discusses the advantages to modellers of using such a representation.

Suggested Citation

  • W. Jill Harrison & K.R. Pearson & Alan A. Powell & E. John Small, 1993. "Solving Applied General Equilibrium Models Represented as a Mixture of Linearized and Levels Equation," Centre of Policy Studies/IMPACT Centre Working Papers ip-61, Victoria University, Centre of Policy Studies/IMPACT Centre.
  • Handle: RePEc:cop:wpaper:ip-61
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    References listed on IDEAS

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    1. Hertel, Thomas W. & Mark Horridge, J. & Pearson, K. R., 1992. "Mending the family tree a reconciliation of the linearization and levels schools of AGE modelling," Economic Modelling, Elsevier, vol. 9(4), pages 385-407, October.
    2. Cooper, Russel J & McLaren, Keith R, 1996. "A System of Demand Equations Satisfying Effectively Global Regularity Conditions," The Review of Economics and Statistics, MIT Press, vol. 78(2), pages 359-364, May.
    3. Russel J. Cooper & Keith R. McLaren, 1992. "An Empirically Oriented Demand System with Improved Regularity Properties," Canadian Journal of Economics, Canadian Economics Association, vol. 25(3), pages 652-668, August.
    4. Maureen T. Rimmer & Alan A. Powell, 1992. "An Implicitly Directly Additive Demand System: Estimates for Australia," Centre of Policy Studies/IMPACT Centre Working Papers op-73, Victoria University, Centre of Policy Studies/IMPACT Centre.
    5. Mark Horridge, 2000. "ORANI-G: A General Equilibrium Model of the Australian Economy," Centre of Policy Studies/IMPACT Centre Working Papers op-93, Victoria University, Centre of Policy Studies/IMPACT Centre.
    6. Maureen T. Rimmer & Alan A. Powell, 1992. "Demand Patterns Across the Development Spectrum: Estimates for the AIDADS System," Centre of Policy Studies/IMPACT Centre Working Papers op-75, Victoria University, Centre of Policy Studies/IMPACT Centre.
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    Cited by:

    1. Alan A. Powell & Keith R. McLaren & K.R. Pearson & Maureen T.Rimmer, 2002. "Cobb-Douglas Utility - Eventually!," Centre of Policy Studies/IMPACT Centre Working Papers ip-80, Victoria University, Centre of Policy Studies/IMPACT Centre.
    2. W. Jill Harrison & K.R. Pearson, 1994. "Multiregional and Intertemporal AGE Modelling via GEMPACK," Centre of Policy Studies/IMPACT Centre Working Papers ip-66, Victoria University, Centre of Policy Studies/IMPACT Centre.
    3. Britz, Wolfgang & van der Mensbrugghe, Dominique, 2016. "Reducing unwanted consequences of aggregation in large-scale economic models - A systematic empirical evaluation with the GTAP model," Economic Modelling, Elsevier, vol. 59(C), pages 463-472.
    4. Guilhoto, Joaquim J.M., 1995. "Um modelo computável de equilíbrio geral para planejamento e análise de políticas agrícolas (PAPA) na economia brasileira
      [A computable general equilibrium model for planning and analysis of agricu
      ," MPRA Paper 42349, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software

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