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Macroemesures in Computable General Equilibrium Models: a Probabilistic Treatment with an Application to Morocco

Listed author(s):
  • Touhami, A.
  • Martens, A.
Registered author(s):

    With the help of an illustrative general equilibrium (CGE) model of the Moroccan Economy, we test for the significance of simulation results in the case where the exact macromesure is not known with certainty. This is done by computing lower and upper bounds for the simulation resukts, given a priori probabilities attached to three possible closures (Classical, Johansen, Keynesian). Our Conclusion is that, when there is uncertainty on closures several endogenous changes lack significance, which, in turn, limit the use of the model for policy prescriptions.

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    File URL: http://hdl.handle.net/1866/2045
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    Paper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 9621.

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    Length: 28 pages
    Date of creation: 1996
    Handle: RePEc:mtl:montde:9621
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    Web page: http://www.sceco.umontreal.ca

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    37. repec:fth:prinin:350 is not listed on IDEAS
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