Economic Equilibrium Modeling with GAMS

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ii The nal chapter I wish to add describes how GAMS can be used to compute forwardlooking, dynamic general equilibrium models. It builds upon ideas from Chapter 5, comparing the familiar Ramsey model with the complementarity setup. I will announce the release of the nal version on the GAMS list, and I will make note on the GAMS web site. I hope this will happen before the end of summer, 1998.
Demand Theory and General Equilibrium An Intermediate Level Introduction to MPSGE
Page 1: Economic Equilibrium Modeling with
Page 5 and 6: Demand Theory and MPSGE 3 who are i
Page 7 and 8: Figure 2. Indi erence Curves and Ut
Page 9 and 10: Y y = 1 Figure 5. A Calibrated Benc
Page 11 and 12: O:PX Q:1 I:PL Q:1 $PROD:Y O:PY Q:1
Page 13 and 14: For this model, the solution listin
Page 15 and 16: MRS = PX.L / PY.L; OPTION MRS:8; DI
Page 17 and 18: Demand Theory and MPSGE 15 Next, we
Page 19 and 20: Demand Theory and MPSGE 17 The key
Page 21 and 22: Demand Theory and MPSGE 19 In GAMS/
Page 23 and 24: Demand Theory and MPSGE 21 N.B. In
Page 25 and 26: PY0 = 1; LX0 = 1; $ONTEXT $MODEL:DE
Page 27 and 28: Demand Theory and MPSGE 25 ---- VAR
Page 29 and 30: RATE OF SUBSTITUTION Demand Theory
Page 31 and 32: $PROD:X $PROD:Y I:PLS Q:1 O:PX Q:1
Page 37 and 38: $DEMAND:A s:SIGMA_A E:PX Q:XA E:PY
Page 43 and 44: Demand Theory and MPSGE 41 SC6 0.77
Page 45 and 46: MXA TRADE IN X FROM B TO A MXB TRAD
Page 47 and 48: Demand Theory and MPSGE 45 Suppress
Page 49 and 50: Applied General Equilibrium Modelin
Page 51 and 52: MPSGE Syntax 49 selected set of pap
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MPSGE Syntax 51 Final demand are de
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MPSGE Syntax 53 SAM displayed in Fi
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MPSGE Syntax 55 PARAMETER A(S) BENC
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* SECTION (ii) MPSGE MODEL DECLARAT
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MPSGE Syntax 59 is, the user cost o
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---- VAR CD LOWER LEVEL UPPER MARGI
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LOOP(SC, * INSTALL TAX RATES FOR TH
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MPSGE Syntax 65 (ii) There are two
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INDEX 1 = HARBERGER UNIF_K UNIF_L U
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MPSGE Syntax 69 James R. Markusen a
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MPSGE Syntax 71 James R. Markusen a
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MPSGE Syntax 73 price (within the $
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MPSGE Syntax 75 X0(R) = SUM(G, YX0(
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7.6. Report Declaration MPSGE Synta
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MPSGE Syntax 79 FUNLOG triggers a f
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MPSGE Syntax 81 -------------------
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MPSGE Syntax 83 or to report percen
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MPSGE Syntax 85 Market Clearance fo
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MPSGE Syntax 87 Income Balance for
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CES Preferences and Technology A Pr
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CES Functions 91 calibrate function
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and compensated factor demands: Exe
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or, equivalently: X CES Functions 9
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CES Functions 97 $TITLE Two nonsepa
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* Now specify the two-level CES fun
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SCALAR DELTA /1.E-5/; SET FUNCTION
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CES Functions 103 $TITLE Numerical
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CES Functions 105 SCALAR SOLVED Fla
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CES Functions 107 $TITLE A Maquette
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$ONTEXT $MODEL:CHKCAL $COMMODITIES:
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PL.L = 1.0; CES Functions 111 * CHE
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Calibration: CES Functions 113 aij
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Calibration: CES Functions 115 ai 0
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118 1. Introduction GAMS (General A
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120 This MCP format encompasses a n
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122 That is: min P ij cijxij s.t. P
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124 PARAMETER ALPHA(I) Supply funct
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126 PARAMETER T(I,J) AD-VALOREM TAX
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128 , 2.t Aggregate world output eq
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130 POSITIVE VARIABLES E(R) FACTOR
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132 SET J PLAYERS /J1*J3/, I ACTION
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134 For these tests, both solvers a
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136 Consider the following nonlinea
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138 Associated Equation Type Variab
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Sequential Joint Maximization Relat
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Joint Maximization 143 maps prices
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Joint Maximization 145 Equilibrium
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OA Figure 1. Equilibrium in a 2x2 E
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If k =1or ( k ) < ( k,1 ), set k+1
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so that when 0 = 4, the (JM-D) prob
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Joint Maximization 153 Let (p; M) d
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Joint Maximization 155 which reduce
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Joint Maximization 157 Murtaugh, Br
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A.1. Two-by-Two Exchange Joint Maxi
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Joint Maximization 161 * The SJM pr
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); Joint Maximization 163 p(i) = -
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Joint Maximization 165 NP = (M+1) *
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SUM(C, ALPHA(C,H) * LOG(D(C,H)/DBAR
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OUTPUT.HOUSEOP 0.80 OUTPUT.CAPEOP 1
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Joint Maximization 171 VARIABLES Y(
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Joint Maximization 173 D.L(C,H) = (
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); Joint Maximization 175 LOOP(N, E
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Economic Equilibrium Modeling with GAMS

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