Regional Computable General Equilibrium Modeling: A Survey and Critical Appraisal

Partridge, Mark D.; Rickman, Dan S.

doi:10.1177/016001769802100301

Cited by 186 publications

(115 citation statements)

References 84 publications

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“…Since regional CGE models are often based on a recursive dynamic structure, the lack of forward-looking expectations has been stressed as an important drawback of such models (Partridge and Rickman, 1998;2011). The focus of this paper is to produce a simple stylized forward-looking model applicable in a regional context, given that the application of the usual mechanism and closures applied in national intertemporal CGE models would misrepresent the adjustment mechanisms that are likely to occur in a region.…”

Section: Discussionmentioning

confidence: 99%

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Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?

2013

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We present a stylized intertemporal forward-looking model able that accommodates key regional economic features, an area where the literature is not well developed. The main difference, from the standard applications, is the role of saving and its implication for the balance of payments. Though maintaining dynamic forward-looking behaviour for agents, the rate of private saving is exogenously determined and so no neoclassical financial adjustment is needed. Also, we focus on the similarities and the differences between myopic and forwardlooking models, highlighting the divergences among the main adjustment equations and the resulting simulation outcomes.JEL classification: C68; D58; D91; R10

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Section: Discussionmentioning

confidence: 99%

“…However, such models often lack forwardlooking expectations and this has been presented as a weakness (Partridge and Rickman, 1998;2010). In this paper we attempt to identify how significant the lack of forward looking expectations is in this setting.…”

Section: Introductionmentioning

confidence: 99%

Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?

2013

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“…In recent years, a growing number of researchers have begun to use the computable general equilibrium models to analyze the impacts of regional policies [3,4,5,6,7,8] . Therefore, in analyzing the impacts of constructing TSBIP locating in the Southern Taiwan, a computable general equilibrium approach is generally considered an appropriate tool.…”

Section: Model Formulationmentioning

confidence: 99%

“…Recently, CGE models have been proposed as an alternative analytical tool for policy analysis on a regional scale [3,4,5,6,7,8] . However, little attention has been devoted to inquiring about the economic impact analyze of important investment on a regional scale in Taiwan.…”

Section: Introductionmentioning

confidence: 99%

A Computable General Equilibrium Model of Southern Region in Taiwan: The Impact of the Tainan Science-Based Industrial Park

Liu¹,

Chen²

2004

American J. of Applied Sciences

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Abstract:The primary modeling tools used to analyze regional economic issues include econometric forecasting models, fixed price Input-Output (I-O) multi-sector models, Social Accounting Matrix (SAM) and Computable General Equilibrium (CGE) models. CGE models combine the advantages of econometric, I-O models and SAM strengthening the theoretical basis of the modeling effort and thus enabling more precise policy analysis. The current CGE literature includes models used to analyze international trade, tax reform, energy and environmental issues etc. However, application of this technique on a regional scale is rare in the scientific literature. In this study, a small regional computable general equilibrium model is constructed and applied to analyze the economic impact of constructing Tainan Science-Based Industrial Park (TSBIP) locating in the Southern Taiwan. The research results provide a valuable reference for decision-makers in formulating industrial and regional policies, as well as helping business managers with strategic planning.

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“…Harrigan et al (1991) gives a full description of early versions of the AMOS framework, and McGregor et al (1999) describe the inter-regional model AMOSRUK. Greenaway et al (1993) gives a general appraisal of CGE models and Partridge and Rickman (1998;2008) reviews regional CGEs. 8 In actual fact, the disturbances introduced here would tend to relax these constraints.…”

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confidence: 99%

The export-base model with a supply-side stimulus to the export sector

Swales

2011

Ann Reg Sci

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In the export-base model, the level of a region's economic activity is underpinned by the performance of its export sector (Daly, 1940;Dixon and Thirlwall, 1975;Kaldor, 1970;North, 1955). This theory is now almost universally represented as a primitive version of the familiar Input-Output (IO) or Keynesian demand-driven approach, where regional output is linked to regional exports through a rather mechanistic multiplier process (Romanoff, 1974). Further, in a standard IO inter-regional framework, the expansion of output in one region always generates positive impacts on other regions. That is to say, there is always a positive spread, and no negative backwash, effect.However, these models typically embody no supply-side constraints. What is more, the stimulus to the export sector is often thought to come through supply-side improvements (North, 1955;McCombie, 1992). Whilst accepting that the development of a healthy export base is generally central to promoting the growth of the regional economy, the relationship is likely to be much more complex than is usually thought. Also whilst an increase in regional exports typically increases economic activity in the target region, the effect on other regions is less straightforward (Myrdal, 1957).In this paper we begin by using a single-region IO analysis of the operation of a stylised export base model. The impact of a conventional increase in export demand is compared to a situation in which increased competitiveness underpins the improved export performance. This analysis is then extended through the use of an interregional (Scotland-Rest of the UK) Computable General Equilibrium (CGE) model.In simulation, different exogenous demand and supply side disturbances are calibrated so as to generate the same long-run expansion in Scottish manufacturing exports. The subsequent specific evolutions of regional GDP and employment in both Scotland and the rest of the UK (RUK) are then tracked.JEL Classifications: R11, R13, R58

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Regional Computable General Equilibrium Modeling: A Survey and Critical Appraisal

Cited by 186 publications

References 84 publications

Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?

Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?

A Computable General Equilibrium Model of Southern Region in Taiwan: The Impact of the Tainan Science-Based Industrial Park

The export-base model with a supply-side stimulus to the export sector

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