Solution software for computable general equilibrium modeling

Jonathan Mark Horridge, Alex Meeraus, Kenneth Robert Pearson, Thomas F Rutherford

    Research output: Chapter in Book/Report/Conference proceedingChapter (Book)Researchpeer-review

    10 Citations (Scopus)

    Abstract

    We describe the progress of computable general equilibrium (CGE) modeling software since the 1980s and contrast the main systems used today: GAMS, MPSGE and GEMPACK. The development of these general-purpose modeling systems has underpinned rapid growth in the use of CGE models, and allowed models to be shared and their results replicated. We show how a very simple model may be implemented and solved in all three systems. We note that they produce the same numerical results but have different strengths. We conclude by considering some challenges for the future.
    Original languageEnglish
    Title of host publicationHandbook of Computable General Equilibrium Modeling: Volume 1B
    EditorsPeter B Dixon, Dale W Jorgenson
    Place of PublicationKidlington Oxford UK
    PublisherNorth-Holland
    Pages1331 - 1381
    Number of pages51
    Edition1st
    ISBN (Print)9780444595560
    DOIs
    Publication statusPublished - 2013

    Cite this

    Horridge, J. M., Meeraus, A., Pearson, K. R., & Rutherford, T. F. (2013). Solution software for computable general equilibrium modeling. In P. B. Dixon, & D. W. Jorgenson (Eds.), Handbook of Computable General Equilibrium Modeling: Volume 1B (1st ed., pp. 1331 - 1381). Kidlington Oxford UK: North-Holland. https://doi.org/10.1016/B978-0-444-59568-3.00020-1
    Horridge, Jonathan Mark ; Meeraus, Alex ; Pearson, Kenneth Robert ; Rutherford, Thomas F. / Solution software for computable general equilibrium modeling. Handbook of Computable General Equilibrium Modeling: Volume 1B. editor / Peter B Dixon ; Dale W Jorgenson. 1st. ed. Kidlington Oxford UK : North-Holland, 2013. pp. 1331 - 1381
    @inbook{c24a5046de8a406486dcd5c014e91a49,
    title = "Solution software for computable general equilibrium modeling",
    abstract = "We describe the progress of computable general equilibrium (CGE) modeling software since the 1980s and contrast the main systems used today: GAMS, MPSGE and GEMPACK. The development of these general-purpose modeling systems has underpinned rapid growth in the use of CGE models, and allowed models to be shared and their results replicated. We show how a very simple model may be implemented and solved in all three systems. We note that they produce the same numerical results but have different strengths. We conclude by considering some challenges for the future.",
    author = "Horridge, {Jonathan Mark} and Alex Meeraus and Pearson, {Kenneth Robert} and Rutherford, {Thomas F}",
    year = "2013",
    doi = "10.1016/B978-0-444-59568-3.00020-1",
    language = "English",
    isbn = "9780444595560",
    pages = "1331 -- 1381",
    editor = "Dixon, {Peter B} and Jorgenson, {Dale W}",
    booktitle = "Handbook of Computable General Equilibrium Modeling: Volume 1B",
    publisher = "North-Holland",
    edition = "1st",

    }

    Horridge, JM, Meeraus, A, Pearson, KR & Rutherford, TF 2013, Solution software for computable general equilibrium modeling. in PB Dixon & DW Jorgenson (eds), Handbook of Computable General Equilibrium Modeling: Volume 1B. 1st edn, North-Holland, Kidlington Oxford UK, pp. 1331 - 1381. https://doi.org/10.1016/B978-0-444-59568-3.00020-1

    Solution software for computable general equilibrium modeling. / Horridge, Jonathan Mark; Meeraus, Alex; Pearson, Kenneth Robert; Rutherford, Thomas F.

    Handbook of Computable General Equilibrium Modeling: Volume 1B. ed. / Peter B Dixon; Dale W Jorgenson. 1st. ed. Kidlington Oxford UK : North-Holland, 2013. p. 1331 - 1381.

    Research output: Chapter in Book/Report/Conference proceedingChapter (Book)Researchpeer-review

    TY - CHAP

    T1 - Solution software for computable general equilibrium modeling

    AU - Horridge, Jonathan Mark

    AU - Meeraus, Alex

    AU - Pearson, Kenneth Robert

    AU - Rutherford, Thomas F

    PY - 2013

    Y1 - 2013

    N2 - We describe the progress of computable general equilibrium (CGE) modeling software since the 1980s and contrast the main systems used today: GAMS, MPSGE and GEMPACK. The development of these general-purpose modeling systems has underpinned rapid growth in the use of CGE models, and allowed models to be shared and their results replicated. We show how a very simple model may be implemented and solved in all three systems. We note that they produce the same numerical results but have different strengths. We conclude by considering some challenges for the future.

    AB - We describe the progress of computable general equilibrium (CGE) modeling software since the 1980s and contrast the main systems used today: GAMS, MPSGE and GEMPACK. The development of these general-purpose modeling systems has underpinned rapid growth in the use of CGE models, and allowed models to be shared and their results replicated. We show how a very simple model may be implemented and solved in all three systems. We note that they produce the same numerical results but have different strengths. We conclude by considering some challenges for the future.

    U2 - 10.1016/B978-0-444-59568-3.00020-1

    DO - 10.1016/B978-0-444-59568-3.00020-1

    M3 - Chapter (Book)

    SN - 9780444595560

    SP - 1331

    EP - 1381

    BT - Handbook of Computable General Equilibrium Modeling: Volume 1B

    A2 - Dixon, Peter B

    A2 - Jorgenson, Dale W

    PB - North-Holland

    CY - Kidlington Oxford UK

    ER -

    Horridge JM, Meeraus A, Pearson KR, Rutherford TF. Solution software for computable general equilibrium modeling. In Dixon PB, Jorgenson DW, editors, Handbook of Computable General Equilibrium Modeling: Volume 1B. 1st ed. Kidlington Oxford UK: North-Holland. 2013. p. 1331 - 1381 https://doi.org/10.1016/B978-0-444-59568-3.00020-1