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WP 2011-1 CGE Applications in Development Economics

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Abstract

This paper begins with an informal history of developing country CGE models, going on to specification and closure, and finally describes a few models with financial extensions. Sectoral detail is central to CGE analysis, but after an initial sketch of an n-sector system most of the discussion focuses on the models' "closures" or patterns of macroeconomic causality, because they strongly influence their sectoral results. Particular attention is paid to the ways in which international trade and financial flows are fitted into applied models.

Suggested Citation

  • Lance Taylor, 2011. "WP 2011-1 CGE Applications in Development Economics," SCEPA working paper series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 2011-1, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
  • Handle: RePEc:epa:cepawp:2011-1
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    File URL: http://www.economicpolicyresearch.org/scepa/publications/workingpapers/2011/Taylor_WP_2011_1.pdf
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    References listed on IDEAS

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    1. Jeffrey Wenger & Christian E. Weller, 2008. "The Interplay between Labor and Financial Markets: What are the Implications for Defined Contribution Accounts?," Working Papers wp162, Political Economy Research Institute, University of Massachusetts at Amherst.
    2. Olivier Blanchard & Giovanni Dell'Ariccia & Paolo Mauro, 2010. "Rethinking Macroeconomic Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 199-215, September.
    3. Duncan McVicar, 2006. "Why do disability benefit rolls vary between regions? A review of the evidence from the USA and the UK," Regional Studies, Taylor & Francis Journals, vol. 40(5), pages 519-533.
    4. Morten O. Ravn & Harald Uhlig, 2002. "On adjusting the Hodrick-Prescott filter for the frequency of observations," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 371-375.
    5. Alan J. Auerbach & Daniel R. Feenberg, 2000. "The Significance of Federal Taxes as Automatic Stabilizers," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 37-56, Summer.
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    Keywords

    development; developing countries; CGE models; international trade; financial flows; sector;

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