Equilibrium Models in an Applied Framework
This book gives the historical development, explanations of technical specifications, and a basic understanding of how to use different equilibrium models in an applied framework. It contains an accessible analytical survey of economic equilibrium models, including multi-sector programming models (linear and quadratic) and the computable general equilibrium (CGE) model. The book introduces the importance of disinvestment, and hence, a model of economic transformation is developed. Finally, the globalisation process of the production system is examined. The equilibrium models in this book are presented in an easy way. Although the book is primarily written for advanced undergraduates and beginning graduates, the reading of the book will appeal to anyone interested in economic theory and applied modelling in the field of economics.
Presents the whole range of applied equilibrium models (input-output, linear activity model, quadratic activity model, and the CGE model) Presents a transformation model, i.e., endogenous disinvestment and investment The CGE model presented is included in the GAMS model library. The GAMS distribution is available on internet without cost.