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A Critique of Computable General Equilibrium Models for Trade Policy Analysis

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  • Hazledine, Tim

Abstract

The paper will deal in turn with three sets of modelling issues: the question of 'data'; the 'micro' problem of specifying market behaviour, and the. 'macro' issue of 'closing' the models in aggregate. I will conclude with some suggestions for future research. The basic theme of the paper is this: CGE modelling is essentially a conservative or 'neoclassical' scientific endeavour, and exhibits the strengths and weaknesses of neoclassicism. And as for the recent injection of apparently nonneoclassical imperfect competition or industrial organization (IO) concepts into CGE, though, as an 10 specialist myself I certainly welcome this in principle, I have doubts about the usefulness of the practice.

Suggested Citation

  • Hazledine, Tim, 1992. "A Critique of Computable General Equilibrium Models for Trade Policy Analysis," Working Papers 51131, International Agricultural Trade Research Consortium.
    • Handle: RePEc:ags:iatrwp:51131
    DOI: 10.22004/ag.econ.51131
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    Cited by:

    1. Galina Williams, 2016. "Economic Impacts from Development of the Coastal Town in Queensland on Tourism and Regional Economy," Resources, MDPI, vol. 5(4), pages 1-16, December.
    2. Beutre, Benjamin & Rodriguez, Gil & Pant, Hom M., 2003. "Data issues in general equilibrium modelling," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57838, Australian Agricultural and Resource Economics Society.
    3. Jin, Ding & Hedtrich, Johannes & Henning, Christian, 2018. "Applying Meta modeling for extended CGE-modeling: Sample techniques and potential application," Conference papers 332947, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    4. Jin, Ding & Hedtrich, Johannes & Henning, Christian H. C. A., 2018. "Applying meta-modeling for extended CGE-modeling: Sampling techniques and potential application," Working Papers of Agricultural Policy WP2018-03, University of Kiel, Department of Agricultural Economics, Chair of Agricultural Policy.

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    Keywords

    International Relations/Trade;

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