Applying General Equilibrium
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Applying General Equilibrium by John B. Shoven
Book DescriptionThe aim of this book is to make more widely available a body of recent research activity that has become known as applied general equilibrium analysis. The central idea underlying this work is to convert the Walrasian general equilibrium structure (formalized in the 1950s by Kenneth Arrow, Gerard Debreu and others) from an abstract representation of an economy into realistic models of actual economies. Numerical, empirically based general equilibrium models can then be used to evaluate concrete policy options by specifying production and demand parameters and incorporating data reflective of real economies. Shoven and Whalley describe all aspects of developing applied general equilibrium models, including developing an appropriate equilibrium structure, calibrating the model, compiling counterfactual equilibria, and interpreting results. The authors contend that the Walrasian general equilibrium model provides an ideal framework for appraising the effects of policy changes on resource allocation, assessing who gains and who loses, and the policy impacts not well covered by empirical macro models. The applications in the book illustrate a number of ways in which fresh insights are provided in longstanding policy controversies.
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Book DetailsISBN: 9780521266550
(228mm x 152mm x 21mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 29-May-1992
Country of Publication: United Kingdom
Books By Author John B. Shoven
Demography and the Economy, Hardback (January 2011)
Demographic studies help make sense of key aspects of the economy, offering insight into trends in fertility, mortality, immigration, and labor force participation, as well as age, gender, and race-specific trends in health and disability. This book explores the connections between demography and economics.
Applied General Equilibrium Analysis, Paperback (August 2008)
This book presents a collection of articles on applied general equilibrium analysis by major contributors to this field.
Putting Our House in Order, Hardback (July 2008)
A former U.S. Secretary of the Treasury and an eminent economist tackle the biggest social issue of our time.
Government Policy Towards Industry in the United States and Japan, Paperback (June 2006)» View all books by John B. Shoven
The essays contained in this 1988 volume cover many important issues relating to government policies in the Japanese and American economies.
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