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The Computation of Counterfactual Equilibria in Homothetic Walrasian Economies

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Abstract

We propose a nonparametric test for multiple calibration of numerical general equilibrium models, and we present an effective algorithm for computing counterfactual equilibria in homothetic Walrasian economies, where counterfactual equilibria are solutions to the Walrasian inequalities.

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  • Donald J. Brown & Ravi Kannan, 2003. "The Computation of Counterfactual Equilibria in Homothetic Walrasian Economies," Cowles Foundation Discussion Papers 1426R, Cowles Foundation for Research in Economics, Yale University, revised May 2004.
    • Handle: RePEc:cwl:cwldpp:1426r
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    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d14/d1426-r.pdf
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    Keywords

    Applied general equilibrium analysis; Walrasian inequalities; Calibration;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

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