Handbook of Computable General Equilibrium Modeling, Volume 1A-1B

1st Edition

Editors: Peter Dixon Dale Jorgenson
Hardcover ISBN: 9780444595683
eBook ISBN: 9780444626318
Imprint: North Holland
Published Date: 14th November 2012
Page Count: 1896
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Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. 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

Introduction to the Series



Chapter 1. Introduction

1.1 Overview

1.2 Single-country models

1.3 Global models

1.4 Technical aspects of CGE modeling: data, parameter estimation, computation and validation

1.5 Current cutting-edge methodological areas


Chapter 2. The MONASH Style of Computable General Equilibrium Modeling: A Framework for Practical Policy Analysis

2.1 Introduction

2.2 Telling a CGE Story

2.3 From Johansen to ORANI

2.4 Extending Johansen’s Computational Framework: The Mathematical Structure of a MONASH Model

2.5 Responding to the Needs of CGE Consumers: The Four Closure Approach

2.6 Concluding Remarks



Chapter 3. Computable General Equilibrium Assessments of Fiscal Sustainability in Norway

3.1 Introduction

3.2 Model Structure

3.3 Evaluating Fiscal Sustainability

3.4 Sensitivity of the Fiscal Prospects to Variations in Economic Growth and Terms of Trade

3.5 Norwegian Public Pension Reform

3.6 Demographic Uncertainty

3.7 Increasing Prefunding Through a Stricter Fiscal Policy Rule

3.8 Final Remarks


Chapter 4. MAMS – A Computable General Equilibrium Model for Developing Country Strategy Analysis

4.1 Introduction

4.2 Context and Main Contributions of MAMS

4.3 Model Design

4.4 Mathematical Structure of MAMS

4.5 MAMS Database

4.6 User-friendly Interface

4.7 Applications: Policy Issues and Insights

4.8 Conclusion


Chapter 5. Contribution of Computable General Equilibrium Modeling to Policy Formulation in Developing Countries

5.1 Introduction

5.2 Types of CGE Models for Development Policy

5.3 CGE Models and Policy Formulation

5.4 Conc


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© North Holland 2013
North Holland
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About the Editor

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


"This two-volume set is the first in the publisher's new series, ‘Handbooks in Economics,’ devoted to publication of authoritative references focused on particular branches of economics, in this case, CGE modeling, which is a tool used ubiquitously for policy analysis and development. The series' handbooks are intended to be self-contained, offering background and a survey of prevailing and competing views as well as current developments - in a manner suitable both for professional reference and as supplementary reading for advanced graduate courses." --Reference and Research Book News, December 2013

"The chapters in these volumes address many of the most challenging economic policy issues facing both developed and developing countries and regions. The books are required reading for anyone wishing to understand the power and range of computable general equilibrium modelling as an input to strategy analysis and policy making." --Larry Dwyer, University of New South Wales

"The rich CGE applications presented in these volumes show that CGE modeling is a vital tool for policy analysis. These chapters will be valuable resources for students and scholars who are interested in new insights and developments." --Jian Xie, The World Bank