A Standard Computable General Equilibrium Model in GAMS

This book delves into the intricacies of computable general equilibrium (CGE) modeling, offering readers a comprehensive guide that is particularly useful for policy researchers. The authors, Hans Löfgren, Rebecca Lee Harris, and Sherman Robinson, utilize GAMS, a high-level modeling system, to navigate the complexities of economic systems and policy analysis. With a focus on accessibility, the book presents a standard CGE model that is adaptable to various scenarios, making it a valuable asset for both practitioners and academics alike.

The authors emphasize the practical applicability of CGE models in assessing the impacts of policy changes across different sectors. Through detailed explanations and clear examples, they elucidate the mechanics of model construction, ensuring that readers can grasp the underlying principles even without extensive prior knowledge. The incorporation of real-world case studies further illustrates the relevance of these models in crafting informed policies.

The book also highlights the importance of microcomputers in facilitating sophisticated economic analysis. By demonstrating how CGE modeling can be executed using readily available technology, the authors empower readers to leverage these tools in their own research. The text serves as both a technical manual and an insightful resource into the broader implications of economic modeling for decision-making.

In summary, this work represents a significant contribution to the field of policy research, bridging the gap between theoretical concepts and practical application through the lens of computable general equilibrium modeling. Both seasoned economists and newcomers to the field will find valuable insights within these pages, fostering a deeper understanding of the interactions within economic systems and the efficacy of policy interventions.