Solution software for computable general equilibrium modeling

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

doi:10.1016/B978-0-444-59568-3.00020-1

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 proceeding › Chapter (Book) › Research › peer-review

24 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 language	English
Title of host publication	Handbook of Computable General Equilibrium Modeling: Volume 1B
Editors	Peter B Dixon, Dale W Jorgenson
Place of Publication	Kidlington Oxford UK
Publisher	North-Holland
Pages	1331 - 1381
Number of pages	51
Edition	1st
ISBN (Print)	9780444595560
DOIs	https://doi.org/10.1016/B978-0-444-59568-3.00020-1
Publication status	Published - 2013

Access to Document

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

Cite this

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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.",

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Solution software for computable general equilibrium modeling. / Horridge, Jonathan Mark; Meeraus, Alex; Pearson, Kenneth Robert et al.

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 proceeding › Chapter (Book) › Research › peer-review

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AU - Meeraus, Alex

AU - Pearson, Kenneth Robert

AU - Rutherford, Thomas F

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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.

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

M3 - Chapter (Book)

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

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