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State-level Dynamic CGE Modeling for Forecasting and Policy Analysis

Dixon, PB and Rimmer, MT (2003) State-level Dynamic CGE Modeling for Forecasting and Policy Analysis. Working Paper. Centre of Policy Studies.

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Abstract

In computable general equilibrium (CGE) modeling there are two broad approaches to generating regional results: bottoms-up and tops-down. We describe both, providing illustrative examples from our experience in Australia. We then describe USAGE, a 500-order dynamic CGE model of the US that we are developing in collaboration with the US International Trade Commission. Tops-down State results from USAGE will be available in a relatively short time. With a longer time horizon, it will be possible to create a bottoms-up version of USAGE. Tops-down applications will be adequate for analysis of economy-wide shocks such as changes in Federal policies. Bottoms-up modeling will be required for analysis of shocks in which the essence is a change in relative costs across regions.

Item Type: Monograph (Working Paper)
ISBN: 0732615410
Additional Information:

CoPS/IMPACT Working Paper Number IP-82

Uncontrolled Keywords: D58; USAGE model; regional modeling; Federal policies
Subjects: FOR Classification > 1403 Econometrics
Faculty/School/Research Centre/Department > Centre of Policy Studies (CoPS)
Depositing User: Symplectic Elements
Date Deposited: 31 Aug 2015 06:44
Last Modified: 30 May 2017 05:53
URI: http://vuir.vu.edu.au/id/eprint/29400
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