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Permalink: http://hdl.handle.net/1866/2045
Macroemesures in Computable General Equilibrium Models: a Probabilistic Treatment with an Application to Morocco.
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Cahier de recherche ; #9621Publisher(s)
Université de Montréal. Département de sciences économiques.Keywords
- [JEL:D50] Microeconomics - General Equilibrium and Disequilibrium - General
- [JEL:D57] Microeconomics - General Equilibrium and Disequilibrium - Input-Output Tables and Analysis
- [JEL:D58] Microeconomics - General Equilibrium and Disequilibrium - Computable and Other Applied General Equilibrium Models
- [JEL:D50] Microéconomie - Équilibre général et déséquilibre - Généralités
- [JEL:D57] Microéconomie - Équilibre général et déséquilibre - Analyses entrées-sorties
- [JEL:D58] Microéconomie - Équilibre général et déséquilibre - Modèles calculables et autres modèles d'équilibre général appliqué
Abstract(s)
With the help of an illustrative general equilibrium (CGE) model of the Moroccan Economy, we test for the significance of simulation results in the case where the exact macromesure is not known with certainty. This is done by computing lower and upper bounds for the simulation resukts, given a priori probabilities attached to three possible closures (Classical, Johansen, Keynesian). Our Conclusion is that, when there is uncertainty on closures several endogenous changes lack significance, which, in turn, limit the use of the model for policy prescriptions.
Touhami, A. et Martens, A., «Macroemesures in Computable General Equilibrium Models: a Probabilistic Treatment with an Application to Morocco.», Cahier de recherche #9621, Département de sciences économiques, Université de Montréal, 1996, 28 pages.
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