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Calibration Procedure and the Robustness of CGE Models: Simulations with a Model for Poland

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  • Roberts, Barbara M

Abstract

Calibration is commonly used in order to specify a numerical computable general equilibrium model. As it involves the evaluation of model parameters on the basis of a single observation, there is a concern about the reliability of the results obtained from the model. A one-sector model for the Polish economy is specified and calibrated using various years as a benchmark equilibrium. Different assumptions are also made about some elasticity parameters. The model response is examined by simulating an increase in government expenditure. The results are quite robust to the choice of the base year but very sensitive to some elasticity parameters such as trade substitution elasticities. Copyright 1994 by Kluwer Academic Publishers

Suggested Citation

  • Roberts, Barbara M, 1994. "Calibration Procedure and the Robustness of CGE Models: Simulations with a Model for Poland," Economic Change and Restructuring, Springer, vol. 27(3), pages 189-210.
    • Handle: RePEc:kap:ecopln:v:27:y:1994:i:3:p:189-210
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    1. Zewdie Habte Shikur, 2020. "Agricultural policies, agricultural production and rural households’ welfare in Ethiopia," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 9(1), pages 1-21, December.
    2. Andreas Mense & Andreas Mense, DIW Berlin/FAU Erlangen-Nürnberg & Konstanin Kholodilin, Ph.D, DIW Berlin, 2011. "A 71 Sector CGE Model for Germany," EcoMod2011 2941, EcoMod.
    3. Joshua Elliott & Meredith Franklin & Ian Foster & Todd Munson & Margaret Loudermilk, 2012. "Propagation of Data Error and Parametric Sensitivity in Computable General Equilibrium Models," Computational Economics, Springer;Society for Computational Economics, vol. 39(3), pages 219-241, March.
    4. Arndt, Channing & Robinson, Sherman & Tarp, Finn, 2002. "Parameter estimation for a computable general equilibrium model: a maximum entropy approach," Economic Modelling, Elsevier, vol. 19(3), pages 375-398, May.
    5. repec:dgr:rugsom:99c02 is not listed on IDEAS
    6. Nilsson, Charlotte, 1999. "A Unilateral Versus a Multilateral Carbon Dioxide Tax - A Numerical Analysis with the European Model GEM-E3," Working Papers 66, National Institute of Economic Research.
    7. repec:dgr:rugsom:99c01 is not listed on IDEAS
    8. Thissen, Mark, 1998. "Two decades of CGE modelling lessons from models for Egypt," Research Report 99C02, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    9. Danso, G.K. & Jeffrey, S.R. & Dridi, C. & Veeman, T., 2021. "Modeling irrigation technology adoption and crop choices: Gains from water trading with farmer heterogeneity in Southern Alberta, Canada," Agricultural Water Management, Elsevier, vol. 253(C).
    10. M Thissen & H Löfgren, 1998. "A New Approach to SAM Updating with an Application to Egypt," Environment and Planning A, , vol. 30(11), pages 1991-2003, November.
    11. Essama-Nssah, 2004. "Building and running general equilibrium models in EViews," Policy Research Working Paper Series 3197, The World Bank.
    12. Mark D. Partridge & Dan S. Rickman, 1998. "Regional Computable General Equilibrium Modeling: A Survey and Critical Appraisal," International Regional Science Review, , vol. 21(3), pages 205-248, December.
    13. Piazolo, Daniel, 1998. "Investment behavior in dynamic computable general equilibrium models for transition economies," Kiel Working Papers 879, Kiel Institute for the World Economy (IfW Kiel).
    14. Liu, Lirong & Huang, Charley Z. & Huang, Guohe & Baetz, Brian & Pittendrigh, Scott M., 2018. "How a carbon tax will affect an emission-intensive economy: A case study of the Province of Saskatchewan, Canada," Energy, Elsevier, vol. 159(C), pages 817-826.
    15. Thissen, Mark, 1998. "A classification of empirical CGE modelling," Research Report 99C01, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    16. Liu, Jing & Arndt, Channing, 2004. "Parameter Estimation and Measures of Fit in A Global, General Equilibrium Model," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 19, pages 626-649.
    17. Barbara M Roberts & Jeffery I Round, "undated". "Import Demand Specification in Computable General Equilibrium Models of Economies in Transition," Discussion Papers in European Economics 99/4, Division of Economics, School of Business, University of Leicester.
    18. Thissen, Mark & Lensink, Robert, 2001. "Macroeconomic effects of a currency devaluation in Egypt: An analysis with a computable general equilibrium model with financial markets and forward-looking expectations," Journal of Policy Modeling, Elsevier, vol. 23(4), pages 411-419, May.

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