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Computable General Equilibrium (computable + general_equilibrium)
Terms modified by Computable General Equilibrium Selected AbstractsINTEGRATED MODELLING OF WATER POLICY SCENARIOS IN THE GREAT BARRIER REEF REGIONECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 3 2005Alexander Smajgl The Reef Water Quality Protection Plan defined a landmark in the political discussion on water use in the Great Barrier Reef (GBR) region. In order to develop a decision support tool that integrates market values and non-market values we combine Computable General Equilibrium (CGE) modelling with multi-attribute utility theory (MAUT) to integrate socio-economic, ecological and hydrological aspects of water use. In two scenarios the applied modelling approach of this paper is explained. [source] Structural adjustment and soil degradation in Tanzania A CGE model approach with endogenous soil productivityAGRICULTURAL ECONOMICS, Issue 3 2001Henrik Wiig CGE model; Soil degradation; Economic growth; Structural adjustment Abstract In this paper, a model of the nitrogen cycle in the soil is incorporated in a Computable General Equilibrium (CGE) model of the Tanzanian economy, thus establishing a two-way link between the environment and the economy. For a given level of natural soil productivity, profit-maximising farmers choose input levels , and hence production volumes , which in turn influence soil productivity in the following years through the recycling of nitrogen from the residues of roots and stover and the degree of erosion. The model is used to simulate the effects of typical structural adjustment policies like a reduction in agro-chemicals' subsidies, reduced implicit export tax rate etc. After 10 years, the result of a joint implementation is a 9% higher Gross Domestic Product (GDP) level compared to the baseline scenario. The effect of soil degradation is found to represent a reduction in the GDP level of more than 5% for the same time period. [source] How Does Economic Development in Eastern Europe Affect Austria's Regions?JOURNAL OF REGIONAL SCIENCE, Issue 2 2002A Multiregional General Equilibrium Framework The paper quantifies regional welfare effects arising from the increasing trade flows between Austria and its Eastern neighbors after the opening up of Eastern Europe. We calibrate a static multiregional Computable General Equilibrium (CGE) model with benchmark data from 1994 for Austria, subdivided into nine Federal Provinces. The regions are linked by trade flows with the four Eastern neighboring countries and with the rest of the world. We simulate the effects of the increase of trade interpenetration as observed between 1989 and 1999 in a comparative static analysis. Regional welfare effects under fixed and flexible wages are presented. We also compare national CGE results with estimates obtained in a simple partial equilibrium approach. [source] The Macro-Economic Effects of Directed Credit Policies: A Real-Financial CGE Evaluation for IndiaDEVELOPMENT AND CHANGE, Issue 3 2001C. W. M. Naastepad The effectiveness of directed credit programmes as an instrument for economic development is the subject of considerable debate. However, the focus of this debate is almost exclusively on the intra-sectoral effects of directed credit and its adverse effects on financial sector performance, neglecting possible spillover effects on demand, production and investment in the rest of the economy. This article tries to fill this gap by examining the macro-economic effects of directed credit in India with the help of a novel real-financial computable general equilibrium (CGE) model. Focusing on credit rather than money, the model goes beyond earlier modelling approaches by (1) incorporating directed credit policy and credit rationing; (2) recognizing the dual role of credit for working capital and investment; and (3) allowing for switches between credit-constrained, capacity-constrained and demand-constrained regimes. The results from short- and medium-term simulation experiments with the model indicate that, when credit market failures result in rationing as in India's agricultural and small-scale industrial sectors, the macro-economic effects of directed credit are likely to be significant and positive. [source] The Accession of the UK to the EC: A Welfare AnalysisJCMS: JOURNAL OF COMMON MARKET STUDIES, Issue 3 2002Michael Gasiorek This article provides a decomposition of the welfare impact on the UK arising from the changes in manufacturing trade consequent upon joining the EC. The methodology employed is that of computable general equilibrium (CGE) modelling, where the underlying model is based on trade under imperfect competition with firms producing under conditions of increasing returns to scale. CGE models can be seen as providing numerical illustrations of theory, or as empirical tools providing estimates of policies. A second aim of this article is then to asses the extent to which CGE models can be used as serious tools of policy analysis. We examine this by assessing the success of the model in replicating counterfactual outcomes. The results indicate (i) that the model does reasonably well in replicating complex reality and that such models can be empirically useful; (ii) that a substantial portion of the welfare impact is attributed to distortions associated with imperfect competition, and that the impact is potentially quite large. [source] Impact of higher oil prices on the Chinese economyOPEC ENERGY REVIEW, Issue 3 2007Sana Zaouali The demand for oil in China has dramatically increased in the last years. Today, China is the second largest consumer of oil in the world behind the United States. This growing demand in oil comes in a context of steep international price hikes for oil. With its increasing oil consumption, China today plays a major role on the international oil markets, and a change in its consumption could seriously destabilise these markets. Moreover, today China occupies a preponderant place on the international scene, and a large drop in its economic activity could significantly affect world growth. It, therefore, is important for us to ask what the impact of the current increase in oil prices on the Chinese economy might be. The aim of this article is to conduct a quantitative analysis on the potential impact of the rise in oil prices on the Chinese economy. The macroeconomic and sectoral effects are evaluated with the help of a computable general equilibrium (CGE) model. Two scenarios were formulated: the first assuming a US $10 increase in international oil prices; the second, a $25 increase. [source] Impact Of Tariff Reduction On Structural Employment In China: A Computable General Equilibrium AnalysisPACIFIC ECONOMIC REVIEW, Issue 2 2000Dianqing Xu The paper studies the effect of tariff reduction on employment in China. Using a computable general equilibrium (CGE) analysis, a model simulates the structural adjustment in the Chinese economy as a result of tariff cuts and predicts their quantitative impacts on structural unemployment during the adjustment period. It is concluded that the structural unemployment in China caused by tariff reduction is not as serious as some have claimed. The technique of study on structural unemployment can be extended to other countries to analyze the impact of trade reform. [source] The Impact of APROC on Taiwan's Economy: A CGEAnalysis of DeregulationASIAN ECONOMIC JOURNAL, Issue 1 2002Shiu-Tung Wang The Taiwan Government defines the Asia-Pacific Regional Operations Center (APROC) project as designed ,to transform Taiwan into a regional economic center through overall liberalization and internationalization'. From this definition and the targets of APROC as set by the Taiwan Government, it is not difficult to see that deregulation is one of the basic means of achieving its goals. In this paper, we use a computable general equilibrium (CGE) model to evaluate the possible effects of this deregulation. The effects of deregulation on the economy go through four channels in the model: (i) deregulation liberalizes the market; (ii) deregulation moderates factor market distortion; (iii) deregulation attracts foreign investment, speeds up capital accumulation and enlarges capital stock in Taiwan; and (iv) deregulation attracts foreign investment and hence improves technology. Six simulations are conducted in this paper. All of the simulations show positive effects on Taiwan's economy as a whole, while for individual sectors the effects are various. [source] Impact of the GST and Wine Tax Reform on Australia's Wine Industry: A CGE AnalysisAUSTRALIAN ECONOMIC PAPERS, Issue 1 2002Glyn Wittwer This study analyses the impacts of the Goods and Services Tax (GST) introduced on 1 July 2000, and the associated wine tax reform, on both the premium and non-premium segments of the grape and wine industry using a computable general equilibrium (CGE) model of the Australian economy. Through input cost reductions, the grape and wine industry is projected to gain from the GST tax package. Thus the industry can still gain even though wine consumption is taxed a little more heavily after than before the introduction of the GST. This is particularly so for the export-oriented premium wine segment. A switch from the current ad valorem to a revenue-neutral volumetric tax on wine under the GST is shown also to favour the premium segment of the industry, but at the expense of the non-premium segment. [source] Changes in Technology and Preferences: A General Equilibrium Explanation of Rapid Growth in TradeAUSTRALIAN ECONOMIC PAPERS, Issue 1 2000Peter B. Dixon We use a computable general equilibrium model in an explanation of the recent rapid growth in Australia's trade, particularly intra-industry trade. Relative to previous studies of trade growth based on multiple regression analysis, our approach allows us to: (i) work at a detailed industry level; (ii) use primary variables to represent changes in technology and preferences rather than proxies; and (iii) use a framework based on explicit microeconomic foundations. We find that most of the growth in Australia's trade relative to GDP is explained by changes in technology and preferences. [source] | |||||||||||||