Multiplier analysis based upon the information contained in Leontief's inverse is undoubtedly part of the core of the input-output methodology and numerous applications an extensions have been developed that exploit its informational content. Nonetheless there are some implicit theoretical...

Identifying key sectors or key locations in an interconnected economy is of paramount importance for improving policy planning and directing economic strategy. Hence the relevance of categorizing them and hence the corresponding need of evaluating their potential synergies in terms of their...

An extension of the hypothetical extraction method to a general equilibrium setting is considered. This has the advantage of re-interpreting output changes as efficiency gains or losses, which may be of use in identifying “key” sectors in an interconnected economy. The categorization may be...

We propose two algorithms for deciding if theWalrasian equilibrium inequalities are solvable. These algorithms may serve as nonparametric tests for multiple calibration of applied general equilibrium models or they can be used to computecounterfactual equilibria in applied general equilibrium...

In this paper, we use a computable general equilibrium model (WIATEC) to study the potential impact of implementing Europe's 20-20-20 climate policy. The results show that the economic costs of implementing the policy are only moderate and within the range of recent empirical evidence....

We describe the progress of computable general equilibrium (CGE) modeling software since the 1980s and contrast the main systems used today: GAMS, MPSGE, and GEMPACK. The development of these general-purpose modeling systems has underpinned rapid growth in the use of CGE models and allowed...

We decompose the economic implications of the Kyoto Protocol at the cross-country level, splitting the total economic impact for each region into contributions from its own emission abatement policy and those from other regions. Our analysis which is based on a large-scale computable general...

This paper presents the new dynamic spatial general equilibrium (DSGE) model – RHOMOLO, which is built to support the EU policy design by undertaking holistic, micro-founded and disaggregated policy impact assessment. The RHOMOLO model is based on the theories of general equilibrium,...

This paper formally compares the fit of various versions of the incomplete markets model with aggregate uncertainty, relying on a simple Bayesian empirical framework. The models differ in the degree of households' heterogeneity, with a focus on the role of preferences. For every specification,...

We incorporate trading fees into a dynamic, multi-agent general-equilibrium model in which traders optimally decide when to trade. For that purpose, we propose an innovative algorithm that synchronizes the traders. Securities prices are not affected by the payment of the fees itself, but rather...