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A Modeling System for Applied General Equilibrium Analysis

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Abstract

Numerical modeling in the Arrow-Debreu framework has emerged as a consistent approach for economic analysis. A major disadvantage of the applied general equilibrium (AGE) framework has been the high degree of technical expertise required for formulating and solving these models. This paper describes a micro-computer for AGE modeling. The system, named MPS/GE, combines an efficient solution algorithm with an interactive user-interface. Using MPS/GE, models containing up to 300 prices and activities can be formulated and solved on an IBM PC. This makes AGE modeling accessible to a wider group of policy analysts and educators than was previously the case.

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  • Thomas Rutherford, 1987. "A Modeling System for Applied General Equilibrium Analysis," Cowles Foundation Discussion Papers 836, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:836
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    4. Thomas Rutherford, 1987. "Implementational Issues and Computational Performance Solving Applied General Equilibrium Models with SLCP," Cowles Foundation Discussion Papers 837, Cowles Foundation for Research in Economics, Yale University.
    5. Ervin, David & Algozin, Kenneth & Carey, Marc & Doering, Otto & Frerichs, Stephen & Heimlich, Ralph & Hrubovcak, Jum & Konyar, Kazim & McCormick, Ian & Osborn, Tim & Ribaudo, Marc & Shoemaker, Robbin, 1991. "Conservation and Environmental Issues in Agriculture: An Economic Evaluation of Policy Options," Staff Reports 278567, United States Department of Agriculture, Economic Research Service.
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