Identifying key elasticities in a CGE model: a Monte Carlo approach

This article presents a simple Monte Carlo (MC) procedure to improve sensitivity analysis in Computable general equilibrium (CGE) modelling. MC experiments provide the modeller with a population of randomly drawn exogenous parameters and corresponding endogenous outcomes. Standard econometrics can then shed light on the relationship between them and help to identify key parameters, particularly key elasticities.

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Year of publication:	2011
Authors:	Belgodere, Antoine ; Vellutini, Charles
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 18.2011, 17, p. 1619-1622
Publisher:	Taylor & Francis Journals
Subject:	Monte Carlo \| elasticities \| CGE

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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