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RunGEM
RunGEM is a freeware component of the commercial modelling package, Gempack. It is mainly used for solving (i.e., simulating with) computable general equilibrium Computable general equilibrium (CGE) models are a class of economic models that use actual economic data to estimate how an economy might react to changes in policy, technology or other external factors. CGE models are also referred to as AGE (appl ... (CGE) models. It does not allow a user to change a model's specification or to create a new model. External links RunGEM Homepage Computer algebra systems {{science-software-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gempack
GEMPACK (General Equilibrium Modelling PACKage) is a modeling system for CGE economic models, used at the Centre of Policy Studies (CoPS) in Melbourne, Australia, and sold to other CGE modellers. Some of the more well-known CGE models solved using GEMPACK are the GTAP model of world trade, and the MONASH, MMRF, ORANI-G and TERM models used at CoPS. All these models share a distinctive feature: they are formulated as a system of differential equations in percentage change form; however, this is not required by GEMPACK. Main features A characteristic feature of CGE models is that an initial solution for the model can be readily constructed from a table of transaction values (such as an input-output table or a social accounting matrix) that satisfies certain basic accounting restrictions. GEMPACK builds on this feature by formulating the CGE model as an initial value problem which is solved using standard techniques. The GEMPACK user specifies her model by constructing a text file ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computable General Equilibrium
Computable general equilibrium (CGE) models are a class of economic models that use actual economic data to estimate how an economy might react to changes in policy, technology or other external factors. CGE models are also referred to as AGE (applied general equilibrium) models. Overview A CGE model consists of equations describing model variables and a database (usually very detailed) consistent with these model equations. The equations tend to be neoclassical in spirit, often assuming cost-minimizing behaviour by producers, average-cost pricing, and household demands based on optimizing behaviour. However, most CGE models conform only loosely to the theoretical general equilibrium paradigm. For example, they may allow for: # non-market clearing, especially for labour (unemployment) or for commodities (inventories) # imperfect competition (e.g., monopoly pricing) # demands not influenced by price (e.g., government demands) A CGE model database consists of: # tables of transacti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |