This paper discusses basic issues in project analysis and shows how these issues can be resolved in a computable general equilibrium (CGE) framework. The role of border prices and intersectoral linkages is explored. The CGE framework is compared to less comprehensive frameworks, including...

This paper uses a computable general equilibrium model of Turkey to explore the empirical effect on adjustment to various macroeconomic shocks of a variety of "structuralist" rigidities. Four types of rigidities are considered: exchange rate rigidity leading to premium rationing and rent...