Handbook of Computable General Equilibrium Modeling

Handbook of Computable General Equilibrium Modeling

1st Edition - November 14, 2012

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  • Editors: Peter Dixon, Dale Jorgenson
  • eBook ISBN: 9780444595805

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In this collection of 16 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view.

Key Features

  • Presents coherent summaries of CGE theories that inform major model types
  • Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results
  • Shows how CGE modeling has made a contribution to economic policy


Graduate students and professors worldwide working in all subdisciplines of economics and finance.

Table of Contents

  • Section 1. Overview

    1. An introduction to CGE modeling --  Peter B. Dixon and Dale W. Jorgenson

    Section 2. Single-Country CGE Projects

    2. The MONASH style of CGE modeling: a framework for hisorical, decomposition, forecast and policy simulations -- Peter B. Dixon, Robert B. Koopman and Maureen T. Rimmer

    3. CGE assessments of fiscal sustainability in Norway -- Erling Holmoy

    4. MAMS - a Computable General Equilibrium Model for Developing Country Strategy Analysis --Hans Lofgren, Martin Cicowiez and Carolina Diaz-Bonilla

    5. The contribution of CGE modeling to policy formulation in developing countries --  Sherman Robinson and Shantayanan Devarajan

    6. Putting services and foreign direct investment into CGE models: reflections on the use of CGE models in policy discussions --  David Tarr

    7. Regional CGE Modeling -- John R. Madden and James A. Giesecke

    8. IGEM: a model of U.S. economic growth and the environment --  Dale W. Jorgenson, Peter Wilcoxen and Mun Ho

    9. Energy and Environment Modeling in Australia -- Philip D. Adams and Brian R. Parmenter

    10. Tax reform, the cost of capital, and U.S. economic growth -- Dale W. Jorgenson and Kun-Young Yun

    11. Dynamic overlapping generations computational general equilibrium models and the analysis of tax policy --

      John W. Diamond and George R. Zodrow

    Section 3. Global CGE Projects

    12. Applied General Equilibrium Analysis using the GTAP Framework -- Thomas Hertel

    13. Estimating effects of price-distorting policies using alternative distortions databases-- Kym Anderson, Will Martin and Dominique van der Mensbrugghe

    14. Global Dynamic Scenarios—Structural and Environmental Implications -- Dominique van der Mensbrugghe

    15. Energy and environment, a global approach: G-cubed-- Warwick J. McKibbin

    16. Integrated economic and climate modeling -- William Nordhaus

    Section 4. CGE Data, Parameter Estimation, Validation and Computation

    17. An econometric approach to general equilibrium modeling --Dale W. Jorgenson, Hui Jin and Daniel T. Slesnick

    18. Trade Elasticity Parameters for a CGE Model -- Russell Hillberry and David Hummels

    19. Validation of CGE models -- Peter B. Dixon and Maureen T. Rimmer

    20. Solution Software for CGE Modeling  -- Mark Horridge, Alex Meeraus, Ken Pearson and Thomas F, Rutherford

    Section 5. Advancing CGE Methodology

    21. Income distribution and Computable General Equilibrium models: macro- micro modelling -- Francois Bourguignon and Maurizio Bussolo

    22. The New Keynesian approach to dynamic general equilibrium modeling: models, methods and macroeconomic policy evaluation -- Volker Wieland and Sebastian Schmidt

    23. Computing general equilibrium theories of monopolistic competition and heterogeneous firms -- Edward J. Balistreri and Thomas F, Rutherford

    24. Market Structure in CGE Models of International Trade -- Joseph Francois, Miriam Manchin and Will Martin

    25. CGE modeling of trade in services -- Joseph Francois and Bernard Hoekman

    26. Labor market modeling in a CGE context -- Stefan Boeters and Luc Savard

    27. Aging and social insurance in a CGE framework -- Laurence Kotlikoff, Hans Fehr and Sabine Jokisch

Product details

  • No. of pages: 1056
  • Language: English
  • Copyright: © North Holland 2012
  • Published: November 14, 2012
  • Imprint: North Holland
  • eBook ISBN: 9780444595805

About the Editors

Peter Dixon

Sir John Monash Distinguished Professor, Centre of Policy Studies, Monash University, Australia

Affiliations and Expertise

Professor and Principal Researcher, Centre of Policy Studies, Monash University, Victoria, Australia

Dale Jorgenson

Professor of Economics, Harvard University, Cambridge, Mass USA

Affiliations and Expertise

Professor of Economics, Harvard University, Cambridge Mass USA

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