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2 pages/≈550 words
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APA
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Mathematics & Economics
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English (U.S.)
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Homework Economics Computable General Equilibrium (Essay Sample)

Instructions:

Please read all the readings and PPT carefully and then answer this question:
With regard to Computable General Equilibrium (CGE) Modeling:
a. Explain its basic definition and description. How it builds on I-O, SAMs and Multi-Sector Programming

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Content:


Computable General Equilibrium
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A computable general equilibrium model is a category of models that employs the use of actual data of economy in the estimation of the reaction manner of an economy to certain changes of external factors such as policy, technology among others (Peter, 2016). The equations contained in CGE are usually those that describe detailed database and model variables. These equations are neo-classical in nature, and they often assume behaviors of average pricing, household demands, and producers in minimizing costs. Most of the CGE models, however, when it comes to the paradigm of theoretical general equilibrium, they conform

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