IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Implementing Systematic Sensitivity Analysis Using GEMPACK

  • Pearson, Ken
  • Channing Arndt

First version September 1996, revised in November 2000 In economic simulation, results often hinge crucially on values of key exogenous inputs (the values of the parameters of the model and the shocks applied). Computational burden has, in the past, hindered systematic investigation of the impacts of variations in these key exogenous inputs. In this document, practical methods for conducting systematic sensitivity analysis for any model implemented using the GEMPACK suite of software are documented. The procedures described here are based on GTAP Technical Paper number 2 which sets out the theory behind the Gaussian quadrature methods on which the automated procedure is based. The procedures allow modellers to obtain estimates of the means and standard deviations of any endogenous variables of their model. The model only needs to be solved a relatively modest number of times (usually only 2N times if N exogenous inputs are varying); this is considerably fewer than the number of solves required by Monte Carlo methods. The procedure documented here fully automates solving the model as often as is necessary; once the user sets it up and starts it running, no further intervention is required. The document spells out the assumptions which must be made about the distribution of the exogenous inputs for the methods described to be valid. Five examples of systematic sensitivity computations are presented and the accompanying software allows modellers to work through these examples while reading the document. This should leave readers fully prepared to analyse the sensitivity of results for any model implemented in GEMPACK. Note Added November 2000: The Windows programs RunGTAP and RunGEM now provide much easier ways of carrying out systematic sensitivity calculations than those supplied with this Technical Paper.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=474
Our checks indicate that this address may not be valid because: 500 Can't connect to www.gtap.agecon.purdue.edu:443 (http://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=474 [302 Object moved]--> https://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=474). If this is indeed the case, please notify (Jeremy Douglas)


Download Restriction: no

Paper provided by Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University in its series GTAP Technical Papers with number 474.

as
in new window

Length:
Date of creation: 2000
Date of revision:
Handle: RePEc:gta:techpp:474
Note: GTAP Technical Paper No. 03
Contact details of provider: Postal: 1145 Krannert Building, West Lafayette, IN 47907-1145
Phone: (765) 494-4267
Fax: 765 494-9176
Web page: http://www.gtap.agecon.purdue.edu/

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:gta:techpp:474. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jeremy Douglas)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.