In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it?presents a history of modeling applications and examines competing points of view.

Reviews

"The chapters in this volume address many of the most challenging economic policy issues facing both developed and developing countries and regions. The book is required reading for anyone wishing to understand the power and range of computable general equilibrium modelling as an input to strategy analysis and policy making."

--Larry Dwyer,??University of New South Wales

"The rich CGE applications presented in this volume show that CGE modeling is a vital tool for policy analysis.? These chapters will be valuable resources for students and scholars who are interested in new insights and developments."

--Jian Xie, The World Bank

"This volume is a clearly written, comprehensive review of the state of the art in CGE modeling, and will be of great value both to those who do CGE modeling and those who use CGE model results for policy analysis and evaluation."

--David G.?Abler, Pennsylvania State University

Feature

• Presents coherent summaries of CGE theories that inform major model types
• Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results
• Shows how CGE modeling has made a contribution to economic policy

1. Introduction 2. The MONASH Style of Computable General Equilibrium Modeling: A Framework for Practical Policy Analysis 3. Computable General Equilibrium Assessments of Fiscal Sustainability in Norway 4. MAMS - A Computable General Equilibrium Model for Developing Country Strategy Analysis 5. Contriubution of Computable General Equilibrium Modeling to Policy Formulation in Developing Countries 6. Putting Services and Foreign Direct Investment with Endogenous Productivity Effects in Computable General Equilibrium Models 7. Regional Computable General Equilibrium Modeling 8. Energy, the Envrionment and US Economic Growth 9. Computable General Equilibrium Modeling of Environmental Issues in Australia: Economic Impacts of an Emissions Trading Scheme 10. Taxation, Efficiency and Economic Growth 11. Dynamic Overlapping Generations Computable General Equilibrium Models and the Analysis of Tax Policy: The Diamond-Zodrow Model 12. Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework 13. Estimating Effects of Price-Distorting Policies Using Alternative Distortions Databases 14. Modeling the Global Economy - Forward-Looking Scenarios for Agriculture 15. A Global Approach to Energy and the Environment: The G-Cubed Model 16. Integrated Economic and Climate Modeling 17. An Econometric Approach to General Equilibrium Modeling 18. Trade Elasticity Parameters for a Computable General Equilibrium Model 19. Validation in Computable General Equilibrium Modeling 20. Solution Software for Computable General Equilibrium Modeling 21. Income Distribution in Computable General Equilibrium Modeling 22. The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation 23. Computing General Equilibrium Theories of Monopolistic Competition and Heterogeneous Firms 24. Market Structure in Multisector General Equilibrium Models of Open Economies 25. Computable General Equilibrium Modeling of Market Access in Services 26. The Labor Market in Computable General Equilibrium Models 27. Generation Policy and Aging in Closed and Open Dynamic General Equilibrium Models