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Calibración de modelos de equilibrio general computado: Métodos y práctica usual
[Calibration of CGE models: Methods and current practice]

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  • Romero, Carlos A.

Abstract

The present article presents a discussion of the methods generally adopted to build the database and to estimate the parameters that requires the implementation of computable general equilibrium models. Basically, this paper deals with “calibration” procedures for CGE models, which are utilized to infer economic data parameters values of a specific period, and that once specified those values in a model applied, reproduce endogenously the data of the period base as a solution. These procedures are the construction of the social accounting matrix, and the utilization of the cross entropy method to assure the consistency; the final calibration of the behavioral parameters and the validation of the model. The main objective is to present the methods, for which some examples were developed, and the related literature that is essential for their implementation.

Suggested Citation

  • Romero, Carlos A., 2009. "Calibración de modelos de equilibrio general computado: Métodos y práctica usual
    [Calibration of CGE models: Methods and current practice]
    ," MPRA Paper 17767, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:17767
    as

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    File URL: https://mpra.ub.uni-muenchen.de/17767/1/MPRA_paper_17767.pdf
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    References listed on IDEAS

    as
    1. N. Gregory Mankiw, 1988. "Recent developments in macroeconomics: a very quick refresher course," Proceedings, Federal Reserve Bank of Cleveland, pages 436-458.
    2. Lars Peter Hansen & James J. Heckman, 1996. "The Empirical Foundations of Calibration," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 87-104, Winter.
    3. Defourny, Jacques & Thorbecke, Erik, 1984. "Structural Path Analysis and Multiplier Decomposition within a Social Accounting Matrix Framework," Economic Journal, Royal Economic Society, vol. 94(373), pages 111-136, March.
    4. Arnold C. Harberger, 1962. "The Incidence of the Corporation Income Tax," Journal of Political Economy, University of Chicago Press, vol. 70, pages 215-215.
    5. St-Hilaire, France & Whalley, John, 1983. "A Microconsistent Equilibrium Data Set for Canada for Use in Tax Policy Analysis," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 29(2), pages 175-204, June.
    6. Rutherford, Thomas F, 1999. "Applied General Equilibrium Modeling with MPSGE as a GAMS Subsystem: An Overview of the Modeling Framework and Syntax," Computational Economics, Springer;Society for Computational Economics, vol. 14(1-2), pages 1-46, October.
    7. N/A, 1985. "General Policy," India Quarterly: A Journal of International Affairs, , vol. 41(1), pages 74-79, January.
    8. Shoven, John B. & Whalley, John, 1972. "A general equilibrium calculation of the effects of differential taxation of income from capital in the U.S," Journal of Public Economics, Elsevier, vol. 1(3-4), pages 281-321, November.
    9. Shoven,John B. & Whalley,John, 1992. "Applying General Equilibrium," Cambridge Books, Cambridge University Press, number 9780521266550, October.
    10. Ballard, Charles L. & Fullerton, Don & Shoven, John B. & Whalley, John, 2009. "A General Equilibrium Model for Tax Policy Evaluation," National Bureau of Economic Research Books, University of Chicago Press, number 9780226036335, July.
    11. Dawkins, Christina & Srinivasan, T.N. & Whalley, John, 2001. "Calibration," Handbook of Econometrics,in: J.J. Heckman & E.E. Leamer (ed.), Handbook of Econometrics, edition 1, volume 5, chapter 58, pages 3653-3703 Elsevier.
    12. Chisari, Omar & Ferro, Gustavo & González, Mariano & León, Sonia & Maquieryra, Javier & Mastronardi, Leonardo & Roitman, Mauricio & Romero, Carlos & Theller, Ricardo, 2010. "Modelo de Equilibrio General Computado para la Argentina 2006," UADE Textos de Discusión 63_2010, Instituto de Economía, Universidad Argentina de la Empresa.
    13. Decaluwe, Bernard & Martens, Andre, 1988. "CGE modeling and developing economies: A concise empirical survey of 73 applications to 26 countries," Journal of Policy Modeling, Elsevier, vol. 10(4), pages 529-568.
    14. Löfgren, Hans & Harris, Rebecca Lee & Robinson, Sherman, 2001. "A standard computable general equilibrium (CGE) model in GAMS," TMD discussion papers 75, International Food Policy Research Institute (IFPRI).
    15. N/A, 1985. "General Policy," India Quarterly: A Journal of International Affairs, , vol. 41(1), pages 112-117, January.
    16. McKitrick, Ross R., 1998. "The econometric critique of computable general equilibrium modeling: the role of functional forms," Economic Modelling, Elsevier, vol. 15(4), pages 543-573, October.
    17. Harrison, Glenn W. & Jones, Richard & Kimbell, Larry J. & Wigle, Randal, 1993. "How robust is applied general equilibrium analysis?," Journal of Policy Modeling, Elsevier, vol. 15(1), pages 99-115, February.
    18. McDougall, Robert, 1999. "Entropy Theory and RAS are Friends," GTAP Working Papers 300, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
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    Citations

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    Cited by:

    1. Chisari, Omar Osvaldo & Mastronardi, Leonardo Javier & Romero, Carlos Adrián, 2012. "Building an input-output Model for Buenos Aires City," MPRA Paper 40028, University Library of Munich, Germany.
    2. repec:kap:iecepo:v:14:y:2017:i:4:d:10.1007_s10368-016-0343-5 is not listed on IDEAS
    3. Mastronardi, Leonardo Javier & Romero, Carlos Adrián, 2012. "Estimación de matrices de insumo producto regionales mediante métodos indirectos. Una aplicación para la ciudad de Buenos Aires
      [A non-survey estimation for regional input-output tables. An applica
      ," MPRA Paper 37006, University Library of Munich, Germany.
    4. Timilsina, Govinda R. & Chisari, Omar O. & Romero, Carlos A., 2013. "Economy-wide impacts of biofuels in Argentina," Energy Policy, Elsevier, vol. 55(C), pages 636-647.

    More about this item

    Keywords

    Computable general equilibrium; Calibration;

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access

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