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GEM-PIA: A real-financial general equilibrium model for poverty impact analysis technical description

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  • Wiebelt, Manfred

Abstract

This paper provides a technical description of GEM-PIA, a recursive-dynamic computable General Equilibrium Model for Poverty Impact Analysis in individual countries. The model combines the optimizing behavior of CGE models with the asset portfolio behavior of macromodels, thereby addressing the role of financial markets. Moreover, the model is linked to household survey information, thereby capturing the socio-economic characteristics of individual households. GEM-PIA can be used for counterfactual analysis of external shocks as well as various policies at the macro and meso level, and to assess their allocational and distributional consequences. The model is calibrated to Bolivian data and its working is illustrated in two scenarios: A permanent rise of gas exports and a temporary devaluation.

Suggested Citation

  • Wiebelt, Manfred, 2004. "GEM-PIA: A real-financial general equilibrium model for poverty impact analysis technical description," Kiel Working Papers 1230, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:1230
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    References listed on IDEAS

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    1. Rainer Thiele & Daniel Piazolo, 2003. "A Social Accounting Matrix for Bolivia Featuring Formal and Informal Activities," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(120), pages 285-318.
    2. Devaragan, Shantayanan & Lewis, Jeffrey D. & Robinson, Sherman, 1990. "Policy lessons from trade-focused, two-sector models," Journal of Policy Modeling, Elsevier, vol. 12(4), pages 625-657.
    3. Devarajan, Shantayanan & Lewis, Jeffrey & Robinson, Sherman, 1990. "Policy Lessons from Two-Sector Models," CUDARE Working Papers 198566, University of California, Berkeley, Department of Agricultural and Resource Economics.
    4. Francois Bourguignon & William H. Branson & Jaime de Melo, 1989. "Adjustment and Income Distribution: A Counterfactual Analysis," NBER Working Papers 2943, National Bureau of Economic Research, Inc.
    5. Robinson, Sherman & Yunez-Naude, Antonio & Hinojosa-Ojeda, Raul & Lewis, Jeffrey D. & Devarajan, Shantayanan, 1999. "From stylized to applied models:: Building multisector CGE models for policy analysis," The North American Journal of Economics and Finance, Elsevier, vol. 10(1), pages 5-38.
    6. Stephan Klasen & Melanie Grosse & Rainer Thiele & Jann Lay & Julius Spatz & Manfred Wiebelt, 2004. "Operationalizing Pro-Poor Growth - Country Case Study: Bolivia," Ibero America Institute for Econ. Research (IAI) Discussion Papers 101, Ibero-America Institute for Economic Research.
    7. Jemio, Luis Carlos & Wiebelt, Manfred, 2003. "¿Existe Espacio para Políticas Anti-Shocks en Bolivia? Lecciones de un Análisis basado en un Modelo de Equilibrio General Computable," Documentos de trabajo 1/2003, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana.
    8. International Monetary Fund, 2004. "Bolivia: Fourth Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria," IMF Staff Country Reports 2004/350, International Monetary Fund.
    9. International Monetary Fund, 2004. "Colombia: Second Review Under the Stand-By Arrangement and Request for Waiver of Performance Criteria," IMF Staff Country Reports 2004/015, International Monetary Fund.
    10. Francois Bourguignon, 2004. "The Poverty-growth-inequality triangle," Indian Council for Research on International Economic Relations, New Delhi Working Papers 125, Indian Council for Research on International Economic Relations, New Delhi, India.
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    Cited by:

    1. Nunnenkamp, Peter & Schweickert, Rainer & Wiebelt, Manfred, 2006. "Distributional effects of FDI: How the interaction of FDI and economic policy affects poor households in Bolivia," Kiel Working Papers 1281, Kiel Institute for the World Economy (IfW Kiel).
    2. Jann Lay & Rainer Thiele & Manfred Wiebelt, 2008. "Shocks, Policy Reforms and Pro‐Poor Growth in Bolivia: A Simulation Analysis," Review of Development Economics, Wiley Blackwell, vol. 12(1), pages 37-56, February.
    3. Manzoor, Davood & Haqiqi, Iman & Aghababaei, Mohammad, 2012. "Modeling Dutch Disease in the Economy of Iran: A Computable General Equilibrium Approach," MPRA Paper 95821, University Library of Munich, Germany.

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    More about this item

    Keywords

    Portfolio Choice; Income Distribution; Poverty; Bolivia; Computable General Equilibrium Model;
    All these keywords.

    JEL classification:

    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models

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