Abstract
In Chaps. 3, 4 and 5 we have developed a simple but increasingly complex general equilibrium model. Starting with the standard textbook version of a private, closed economy we showed how the different pieces of the model interact with each other to give rise to a system of equations that capture and describe market equilibrium. The addition of the government and the external sector, as well as the modification of the labor market to allow for unemployment, provided a more realistic picture of an actual economy and laid the grounds for the study of various policy issues. In each of the examples used, however, the specification of the model parameters was arbitrary, except for a choice of units that yielded convenient solution values for prices and output levels.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bacharach, M. (1965). Estimating non-negative matrices from marginal data. International Economic Review, 6(3), 294–310.
Bacharach, M. (1970). Biproportional matrices and input–output change. London: Cambridge University Press.
Cardenete, M. A., & Sancho, F. (2004). Sensitivity of simulation results to competing SAM updates. The Review of Regional Studies, 34(1), 37–56.
Dawkins, C., Srinivasan, T. N., & Whalley, J. (2001). Calibration. In J. Heckman & E. E. Leamer (Eds.), Handbook of econometrics, Chap. 58 (Vol. 5). Amsterdam: North-Holland.
Harrison, G., & Vinod, H. D. (1992). The sensitivity analysis of applied general equilibrium. The Review of Economics and Statistics, 74(2), 357–362.
Harrison, G., Jones, R., Kimbell, L., & Wiggle, R. (1993). How robust is applied general equilibrium analysis? Journal of Policy Modeling, 15(1), 99–115.
Kehoe, T. J., Polo, C., & Sancho, F. (1995). An evaluation of the performance of an applied general equilibrium model of the Spanish economy. Economic Theory, 6(1), 115–141.
Keuning, S., & de Ruitjer, W. (1988). Guidelines to the construction of a social accounting matrix. Review of Income and Wealth, 34(1), 71–100.
Mansur, A., & Whalley, J. (1984). Numerical specification of applied general equilibrium models: Estimation, calibration and data. In H. Scarf & J. Shoven (Eds.), Applied general equilibrium analysis. New York: Cambridge University Press.
Pyatt, G. (1988). A SAM approach to modeling. Journal of Policy Modeling, 10, 327–352.
Reiner, K., & Roland-Holst, D. W. (1992). A detailed social accounting matrix for the United States. Economic Systems Research, 4(2), 173–187.
Robinson, S., Cattaneo, A., & El-Said, M. (2001). Updating and estimating a social accounting matrix using cross-entropy methods. Economic Systems Research, 13(1), 47–64.
Sancho, F. (2009). Calibration of CES functions for ‘real-world’ multisectoral modeling. Economic Systems Research, 21(1), 45–58.
Stone, R., & Brown, A. (1962). A computable model of economic growth. London: Chapman & Hall.
Stone, R., & Corbit, J. D. (1997). The accounts of society. The American Economic Review, 87(6), 17–29.
Thorbecke, E. (2000). The use of social accounting matrices in modeling. Paper presented at the 26th General Conference of the International Association for Research in Income and Wealth, Cracow.
Author information
Authors and Affiliations
Corresponding author
Appendix
Appendix
Rights and permissions
Copyright information
© 2012 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Cardenete, M.A., Guerra, AI., Sancho, F. (2012). Data Base and Model Calibration. In: Applied General Equilibrium. Springer Texts in Business and Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-24746-0_6
Download citation
DOI: https://doi.org/10.1007/978-3-642-24746-0_6
Published:
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-24745-3
Online ISBN: 978-3-642-24746-0
eBook Packages: Business and EconomicsEconomics and Finance (R0)