Dynamic Multi-Sector CGE Modeling -- Reply to Assmann and Hogrefe
Farmer and Wendner (2004) consider the sensitivity of policy effects, as implied by dynamic multi-sector computable general equilibrium models, with respect to the specification of capital and investment aggregation. They demonstrate that (small) differences in the specification of capital and investment aggregation may yield large differences in the policy effects predicted by dynamic multi-sector computable general equilibrium models. Assmann and Hogrefe, AH in the following, conclude that Farmer and Wendner's (FW) result indeed also holds in different model frameworks. However, they criticize FW's model that is based on the ``puzzling'' value capital approach. Here, FW reply to AH's critique.
|Date of creation:||07 Jul 2008|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- FARMER Karl & WENDNER Ronald, "undated".
"Dynamic Multi-Sector CGE Modelling and the Specification of Capital,"
- Farmer, Karl & Wendner, Ronald, 2004. "Dynamic multi-sector CGE modeling and the specification of capital," Structural Change and Economic Dynamics, Elsevier, vol. 15(4), pages 469-492, December.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:9494. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.