Introduction to Computable General Equilibrium Models

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Mary E. BurfisherCambridge University Press, 2011-05-05EAN 9780521139779, ISBN10: 0521139775Hardcover, 368 pages, 25.4 x 25.3 x 17.8 cmComputable general equilibrium (CGE) models a re widely used by governmental organizations and academic institutions to analyze the economy-wide effects of events such as climate change, tax policies and immigration. This book provides a practical, how-to guide to CGE models suitable for use at the undergraduate college level. Its introductory level distinguishes it from other available books and articles on CGE models. The book provides intuitive and graphical explanations of the economic theory that underlies a CGE model and includes many examples and hands-on modeling exercises. It may be used in courses on economics principles, microeconomics, macroeconomics, public finance, environmental economics and international trade and finance, because it shows students the role of theory in a realistic model of an economy. The book is also suitable for courses on general equilibrium models and research methods and for professionals interested in learning how to use CGE models.Advance praise: 'Climate change, agricultural subsidies, high food prices, global and regional trade agreements, killer diseases, misaligned exchange rates - the major policy debates of our time - are increasingly analyzed using computable general equilibrium (CGE) models. Mary Burfisher's book opens up the 'black box' of these models and provides a lucid introduction to their economic underpinnings, their data and modeling assumptions, and their application to public policy. This book will lead to better informed producers and consumers of CGE models and, we hope, better policy decisions.' Shantayanan Devarajan, Chief Economist, World Bank Show more