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Computational Methods for the Study of Dynamic Economies

Ramon Marimon and Andrew Scott (eds)

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Macroeconomics increasingly uses stochastic dynamic general equilibrium models to understand theoretical and policy issues. Unless very strong assumptions are made, understanding the properties of ... More


Introduction

Anthony Garratt, Kevin Lee, M. Hashem Pesaran, and Yongcheol Shin

in Global and National Macroeconometric Modelling: A Long-Run Structural Approach

Published in print:
2006
Published Online:
September 2006
ISBN:
9780199296859
eISBN:
9780191603853
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199296855.003.0001
Subject:
Economics and Finance, Econometrics

This chapter introduces the long-run structural approach to modelling. It makes brief comparisons with the key alternative approaches, namely large-scale simultaneous equation models, unrestricted ... More


Markovian Equilibria in a Dynamic General Equilibrium Model with Heterogeneous Consumers

Subir K. Chakrabarti

in Dimensions of Economic Theory and Policy: Essays for Anjan Mukherji

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198073970
eISBN:
9780199081615
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198073970.003.0002
Subject:
Economics and Finance, Microeconomics

This chapter proves that there exists a sequence of equilibrium prices in a general equilibrium model in which markets meet successively over several periods. The general equilibrium model is that of ... More


The Labour Market Effects of International Trade: A Computable General Equilibrium Model

Alasdair Smith

in Trade and Jobs in Europe: Much Ado About Nothing?

Published in print:
1999
Published Online:
August 2004
ISBN:
9780198293606
eISBN:
9780191601262
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198293607.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics

A computable general equilibrium (CGE) model is developed to examine the impact of international trade on the labour market. The model confirms the general conclusion that the effects of trade on ... More


Computing Models of Social Security

Ayşe İmrohoroğlu, Selahattin İmrohoroğlu, and Douglas H. Joines

in Computational Methods for the Study of Dynamic Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

A core topic of current economic research (and policy debate) is the evaluation of social security systems and their possible reforms. Shows how models of social security can be computed in economies ... More


International Trade Theory and International Business

James R. Markusen

in Oxford Handbook of International Business

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199241828
eISBN:
9780191596834
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199241821.003.0003
Subject:
Economics and Finance, International

The aim of this chapter is to acquaint researchers in the field of international business with recent research in the field of international trade, which is beginning to incorporate aspects of ... More


Walras‐Type Model of Match‐Box Size

Michio Morishima

in Theory of Economic Growth

Published in print:
1969
Published Online:
November 2003
ISBN:
9780198281641
eISBN:
9780191596667
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281641.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

Introduces multi‐sectoral growth analysis. Mainly devoted to examining a Walrasian general equilibrium model of capital formation on the smallest possible scale. It is assumed that the economy ... More


The Outsiders: Economic Reform and Informal Labour in a Developing Economy

Sugata Marjit and Saibal Kar

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198071495
eISBN:
9780199081257
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198071495.001.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

The informal economy has emerged as one of the most dynamic, active, and hotly-debated domains in the entire developing world. Unfortunately, it remains one of the least treated subjects in ... More


Towards More Disaggregated Models

Michio Morishima

in Theory of Economic Growth

Published in print:
1969
Published Online:
November 2003
ISBN:
9780198281641
eISBN:
9780191596667
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281641.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

Returns to the neoclassical model where the full employment of resources and labour is automatically attained and the Rule of Profitability and the Rule of Free Goods control behaviour of activities ... More


Equilibrium models intended to overcome limits

Lawrence A. Boland

in Equilibrium Models in Economics: Purposes and Critical Limitations

Published in print:
2017
Published Online:
May 2017
ISBN:
9780190274320
eISBN:
9780190274368
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190274320.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter will critically examine today’s common ways to build equilibrium models. These specifically include Dynamic-Stochastic General Equilibrium models, game theoretical models and empirical ... More


Equilibrium with Constant Returns

Yves Balasko

in General Equilibrium Theory of Value

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691146799
eISBN:
9781400838912
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691146799.003.0012
Subject:
Economics and Finance, History of Economic Thought

This chapter analyzes an equilibrium model where privately owned firms feature either smooth decreasing or constant returns to scale. Profit of the constant returns to scale firms being equal to zero ... More


The Equilibrium Manifold: Postmodern Developments in the Theory of General Economic Equilibrium

Yves Balasko

Published in print:
2009
Published Online:
August 2013
ISBN:
9780262026543
eISBN:
9780262255370
Item type:
book
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262026543.001.0001
Subject:
Economics and Finance, Econometrics

This book argues that, contrary to what many textbooks want readers to believe, the study of the general equilibrium model did not end with the existence and welfare theorems of the 1950s. These ... More


Postscript

Yves Balasko

in General Equilibrium Theory of Value

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691146799
eISBN:
9781400838912
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691146799.003.0013
Subject:
Economics and Finance, History of Economic Thought

This chapter begins with a brief discussion of the topicality of the standard model. The general equilibrium model studied in this book, a model that we can call the standard model, offers us a ... More


The Informal Sector in General Equilibrium Models

Sugata Marjit and Saibal Kar

in The Outsiders: Economic Reform and Informal Labour in a Developing Economy

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198071495
eISBN:
9780199081257
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198071495.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter presents a general equilibrium model to theoretically examine the activities of the informal sector in dual economy labour markets. By linking the unorganized sector to the organized ... More


Discrete State‐Space Methods for the Study of Dynamic Economies

Craig Burnside

in Computational Methods for the Study of Dynamic Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

A number of numerical methods are discussed for solving dynamic stochastic general equilibrium models that fall within the common category of discrete state‐space methods. These methods can be ... More


Zimbabwe: Economic Adjustment, Income Distribution and Trade Liberalization *

Rob Davies and Jørn Rattsø

in External Liberalization, Economic Performance and Social Policy

Published in print:
2001
Published Online:
September 2007
ISBN:
9780195145465
eISBN:
9780199783960
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195145465.003.0011
Subject:
Economics and Finance, International

The liberalization process in Zimbabwe is described in the first main section of this chapter, and the next section offers a stylized theory of trade liberalization effects in Africa based on the ... More


The Dynamic Economic Effects of a U.S. Corporate Income Tax Rate Reduction

John W. Diamond, George R. Zodrow, Thomas S. Neubig, and Robert J. Carroll

in Pathways to Fiscal Reform in the United States

Published in print:
2014
Published Online:
September 2015
ISBN:
9780262028301
eISBN:
9780262321914
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028301.003.0008
Subject:
Economics and Finance, Financial Economics

The U.S. statutory corporate income tax rate is now the highest in the world among industrialized countries, and has sparked many proposals for reform. In this chapter, John Diamond, George Zodrow, ... More


The Exchange Model

Yves Balasko

in General Equilibrium Theory of Value

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691146799
eISBN:
9781400838912
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691146799.003.0004
Subject:
Economics and Finance, History of Economic Thought

The exchange model is the simplest of all general equilibrium models. Studying it will show us the directions to follow when studying more complex models like those that include production or take ... More


Global Issues

Richard Pomfret

in The Economics of Regional Trading Arrangements

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248872
eISBN:
9780191596797
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248877.003.0016
Subject:
Economics and Finance, International

Section 1 of this chapter investigates whether RTAs have led to increased regionalization of world trade. Section 2 reports on studies using CGE models to identify gainers and losers from the spread ... More


Equilibrium with Decreasing Returns

Yves Balasko

in General Equilibrium Theory of Value

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691146799
eISBN:
9781400838912
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691146799.003.0010
Subject:
Economics and Finance, History of Economic Thought

This chapter discusses an approach to the study of the general equilibrium model with private ownership of smooth production with decreasing returns by adjusting consumers’ individual demand ... More


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