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Integrated Macro-Micro-Modelling Under Rational Expectations

Name: Integrated Macro-Micro-Modelling Under Rational Expectations
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 01737758
Price: 53.79 EUR
Availability: InStock
Author: Michael Malakellis
ISBN: 9783790812749

With an Application to Tariff Reform in Australia

Michael Malakellis

Language

English

Book Paperback

Libristo code: 01737758

Publishers Springer-Verlag Berlin and Heidelberg GmbH & Co. KG, February 2000

This book provides a comprehensive account of the theoretical structures, database, computation and... Full description

Libristo code: 01737758

132 b

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This book provides a comprehensive account of the theoretical structures, database, computation and application of ORANI-INT. ORANI-INT is a multi-period elaboration of ORANI, a well-known computable general equilibrium model of the Australian economy.The implications of assuming that expectations are model consistent are contrasted with those of the alternative assumption that expectations are static. A generic algorithm for solving a wide range of economic models is described in detail. The algorithm is portable because it is implemented in GEMPACK, a commercially available software package. The major application reported in the book addresses the issue whether tariff reform policies should be announced ahead of their implementation. Many of the multisectoral models used throughout the world are static. The methodology presented in the book demonstrates that such models can be easily embedded into an intertemporal framework.