Target Fitting and Robustness Analysis in CGE Models
This paper proposes a methodology to integrate econometric models with Johansen-type computable general equilibrium (CGE) models in instances when it is necessary to generate results consistent with a subset of variables that are endogenous to both models. Results for a subset of the CGE endogenous variables are generated from econometric models, and set as targets to be replicated by the CGE model. The methodology is further extended for robustness testing of the outcomes in cases which the targeted scenarios are random. The proposed methodology is illustrated by simulating the impacts of a monetary shock in Brazil.
|Date of creation:||12 Aug 2012|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.fea.usp.br/feaecon/
More information through EDIRC
|Order Information:|| Email: |
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.:
- Gerald Carlino & Robert DeFina, 1997. "The differential regional effects of monetary policy: evidence from the U.S. States," Working Papers 97-12, Federal Reserve Bank of Philadelphia.
- Geoffrey J.D. Hewings & Suahasil Nazara & Chokri Dridi, 2004.
"Channels of Synthesis Forty Years On: Integrated Analysis of Spatial Economic Systems,"
- Geoffrey J.D. Hewings & Suahasil Nazara & Chokri Dridi, 2004. "Channels of synthesis forty years on: integrated analysis of spatial economic systems," Journal of Geographical Systems, Springer, vol. 6(1), pages 7-25, 04.
- Haddad, Eduardo A. & Hewings, Geoffrey J.D., 2005. "Market imperfections in a spatial economy: some experimental results," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(2-3), pages 476-496, May.
- Michael Beenstock & Daniel Felsenstein, 2007. "Spatial Vector Autoregressions," Spatial Economic Analysis, Taylor & Francis Journals, vol. 2(2), pages 167-196.
- Di Giacinto, Valter, 2002. "Differential regional effects of monetary policy: a geographical SVAR approach," ERSA conference papers ersa02p257, European Regional Science Association.
- André Minella & Nelson F. Souza-Sobrinho, 2009. "Monetary Channels in Brazil through the Lens of a Semi-Structural Model," Working Papers Series 181, Central Bank of Brazil, Research Department.
- DeVuyst, Eric A. & Preckel, Paul V., 1997. "Sensitivity analysis revisited: A quadrature-based approach," Journal of Policy Modeling, Elsevier, vol. 19(2), pages 175-185, April.
- Matthew W. Peter & Mark Horridge & G.A.Meagher & Fazana Naqvi & B.R.Parmenter, 1996. "The Theoretical Structure of MONASH-MRF," Centre of Policy Studies/IMPACT Centre Working Papers op-85, Victoria University, Centre of Policy Studies/IMPACT Centre.
- repec:fda:fdaddt:99-14 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:spa:wpaper:2012wpecon14. 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: (Pedro Garcia Duarte)
If references are entirely missing, you can add them using this form.