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General Equilibrium
- 2. Economic agents (households, firms, governments and the rest of the world)
- 3. An economy or a region
- 5. Utilisation
- 6. And interpretationCopyright © ECOPA 2009 1
- 8. General equilibrium micro-economic techniques
- 9. Estimation of demand functions
- 11. Numerical optimisation software such as GAMSCopyright © ECOPA 2009 2
- 12. CGE MODEL Copyright © ECOPA 2009 3 GENERAL EQUILIBRIUM EVALUATION OF MACRO-ECONOMIC AND TRADE POLICIES
- 13. 4 GENERAL EQUILIBRIUM EVALUATION OF MACRO-ECONOMIC AND TRADE POLICIES EXAMPLE USING A CGE MODEL (ii) Whenthese relations are disturbed by : CGE Modelsdetermine a pricevector capable of restoring a new generalequilibriumbased on the agents’ optimal behaviour. A new economicpolicy An exogenouseconomicshock Copyright © ECOPA 2009
- 15. Budget constraints (government budget, household budget, etc.)
- 16. As well as their interactionsCopyright © ECOPA 2009 5
- 18. customs and fiscal policies
- 20. the impact of a supply and demandshock
- 21. Can include a micro-simulation model, enabling the analysis of :
- 23. and its distributive effects Copyright © ECOPA 2009 6