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Automating the Computation of Solutions of Large Economic Models

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  • K.R. Pearson

Abstract

The computer implementation of any large economic model is usually a very expensive and time consuming task. This paper describes a software package, called GEMPACK, which is being developed specifically to reduce dramatically the research time, effort and cost required to set up one solution method (the Johansen method) on a computer. Existing features of GEMPACK are described in detail, as are developments planned for the near future. The software is model-independent, in that it works for a wide class of economic models, irrespective of the form of the equations or underlying theory. GEMPACK is portable to most mini and main-frame computers, because it has been written in ANSI standard FORTRAN 77, with such portability as a primary requirement.

Suggested Citation

  • K.R. Pearson, 1986. "Automating the Computation of Solutions of Large Economic Models," Centre of Policy Studies/IMPACT Centre Working Papers ip-27, Victoria University, Centre of Policy Studies/IMPACT Centre.
    • Handle: RePEc:cop:wpaper:ip-27
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    References listed on IDEAS

    as
    1. K.R. Pearson & Russell J. Rimmer, 1983. "Sparse matrix methods for computable general equilibrium models of the Johansen class," Centre of Policy Studies/IMPACT Centre Working Papers op-43, Victoria University, Centre of Policy Studies/IMPACT Centre.
    2. Duchin, Faye & Szyld, Daniel B, 1979. "Application of Sparse Matrix Techniques to Inter-Regional Input-Output Analysis," Economic Change and Restructuring, Springer, vol. 15(2-3), pages 142-167.
    3. Pearson, K.R. & Rimmer, Russell J., 1985. "An efficient method for the solution of large computable general equilibrium models," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 27(2), pages 223-229.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Computable general equilibrium; applied economic modelling; software;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software

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