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Applied General Equilibrium Modelling (Paperback, Softcover reprint of the original 1st ed. 1991)
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Applied General Equilibrium Modelling (Paperback, Softcover reprint of the original 1st ed. 1991)
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Over the last decade or so, applied general equilibrium models have
rapidly become a major tool for policy advice on issues regarding
allocation and efficiency, most notably taxes and tariffs. This
reflects the power of the general equilibrium approach to
allocative questions and the capability of today's applied models
to come up with realistic answers. However, it by no means implies
that the theoretical, practical and empirical problems faced by
researchers in applied modelling have all been solved in a
satisfactory way. Rather, a promising field of research has been
opened up, inviting theorists and practitioners to further explore
and exploit its potential. The state of the art in applied general
equilibrium modelling is reflected in this volume. The introductory
Chapter (Part I) evaluates the use of economic modelling to address
policy questions, and discusses the advantages and disadvantages of
applied general equilibrium models. Three substantive issues are
dealt with in Chapters 2-8: Tax Reform and Capital (Part II),
Intertemporal Aspects and Expectations (Part III), and Taxes and
the Labour Market (Part IV). While all parts contain results
relevant for economic policy, it is clear that theory and
applications for these areas are in different stages of
development. We hope that this book will bring inspiration, insight
and information to researchers, students and policy advisors.
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