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Macro-Micro Models

Author

Listed:
  • John Cockburn

    (Département d'économique, Université Laval)

  • Luc Savard

    (Département d'économique, Université de Sherbrooke)

  • Luca Tiberti

    (Département d'économique, Université Laval)

Abstract

In this paper we review the joint macro-micro modeling framework. In the last twenty years, analysts have increasingly used computable general equilibrium (CGE) models jointly with microsimulation (MS) models to perform efficiency and distributive impact analysis. CGE models focus on macro and sectoral impact of policy reforms and they also capture general equilibrium effects of simulations. MS models focus on households of individuals’ behavior and are a key tool for distributional impact analysis. We detail the different approaches used and highlighting their advantages and disadvantages. We review the representative agent, the fully integrated, the top-down, bottom-up and iterative approaches.

Suggested Citation

  • John Cockburn & Luc Savard & Luca Tiberti, 2015. "Macro-Micro Models," Cahiers de recherche 15-08, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    • Handle: RePEc:shr:wpaper:15-08
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    File URL: http://gredi.recherche.usherbrooke.ca/wpapers/GREDI-1508.pdf
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    Keywords

    CGE model; microsimulation model; distributional impact analysis; poverty analysis;
    All these keywords.

    JEL classification:

    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • 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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