English, Article, Journal or magazine article edition: Solving Applied General Equilibrium Models Represented as a Mixture of Linearized and Levels Equation W. Jill Harrison; K.R. Pearson; Alan A. Powell; ...

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Solving Applied General Equilibrium Models Represented as a Mixture of Linearized and Levels Equation
Author
  • W. Jill Harrison
  • K.R. Pearson
  • Alan A. Powell
  • E. John Small
Physical Description
  • preprint
Notes
  • General equilibrium models are usually represented as a system of levels equations (e.g. in North America) or a system of linearized equations (e.g. in Australia). Either representation can be used to obtain accurate solutions. General-purpose software is available in both cases - GAMS or MPS/​GE for levels modellers and GEMPACK for linearizers. Some equations (notably accounting identities) are naturally expressed in the levels while others (especially behavioural equations) are naturally expressed in a linearized form. This paper describes the new GEMPACK facility for solving models represented as a mixture of levels and linearized equations and discusses the advantages to modellers of using such a representation.
  • RePEc:cop:wpaper:ip-61
Language
  • English
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