Computable general equilibrium

 

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Computable general equilibrium

Refers to economic models of microeconomic behavior in multiple markets of one or more economies, solved computationally for equilibrium values or changes due to specified policies. The equations are anchored with data from the countries being modeled, while behavioral parameters are either assumed or adapted from estimates elsewhere.



Similar Matches

Equilibrium rate of interest

Equilibrium rate of interest

The interest rate that clears the market. Also called the trade-clearing interest rate.


Equilibrium position

Equilibrium position

Same as equilibrium level, though perhaps of several variables at once, perhaps as displayed in a graph.


Balance of payments equilibrium

Balance of payments equilibrium

Meaningful only under a pegged exchange rate, this referred to equality of credits and debits in the balance of payments using the traditional definition of the capital account. A surplus or deficit implied changing official reserves, so that something would ultimately have to change.


Equilibrium price

Equilibrium price

The price when the supply of goods matches demand.


Partial equilibrium

Partial equilibrium

Equality of supply and demand in only a subset of an economy's markets -- usually just one -- taking variables from other markets as given. Partial equilibrium models are appropriate for products that constitute only a negligibly small part of the economy. They are used routinely (not always appropriately) for analysis of trade policies in single industries. Contrasts with general equilibrium.


Further Suggestions

Equilibrium
Disequilibrium
General equilibrium
Multi-cone equilibrium
Equilibrium
Equilibrium level
Nash equilibrium
Two cone equilibrium
One cone equilibrium
Equilibrium exchange rate
Market equilibrium


 
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