General Equilibrium Analyses of COVID-19 Impacts and Policies: An Historical Perspective

2021 ◽  
Author(s):  
Roberto Roson ◽  
Camille Van der Vorst
Keyword(s):  
General Equilibrium ◽  
Historical Perspective ◽  
Equilibrium Analyses

scholarly journals The Doha development round and Africa: partial and general equilibrium analyses of tariff preference erosion

2007 ◽  
Vol 37 ◽  
pp. 287-295
Author(s):  
Mohamed Hedi Bchir ◽  
Stephen N. Karingi ◽  
Andrew Mold ◽  
Patrick N. Osakwe ◽  
Mustapha Sadni Jallab
Keyword(s):  
General Equilibrium ◽  
Tariff Preference ◽  
Equilibrium Analyses

The Australia—China Free Trade Agreement: Some Modelling Issues

2007 ◽  
Vol 49 (5) ◽  
pp. 631-645 ◽  
Author(s):  
Peter B. Dixon
Keyword(s):  
Technology Transfer ◽  
General Equilibrium ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
New Information ◽  
Mutual Awareness ◽  
Equilibrium Analyses ◽  
Tariff Reductions ◽  
General Equilibrium Modelling

General equilibrium modelling has been used to analyse many policy proposals. This article aims to help non-modellers assess general equilibrium analyses, particularly of a potential Australia—China free trade agreement (FTA). General equilibrium modelling is effective in studies of unilateral tariff reductions. However, most general equilibrium modelling assumes given technologies and information. For issues where the essence is technology transfer and new information, general equilibrium models can only produce results after most of the analysis has been done outside the model. In an Australia—China FTA, tariff cuts may be only a small part of the package. The main part may be goodwill, technology transfer and increased mutual awareness. Thus, for analysing FTAs, general equilibrium modelling is of limited value. The only conclusion for Australia that general equilibrium modelling of an Australia—China FTA can deliver with any certainty is that such an agreement will cause significant contraction in the Australian clothing industry.

Appraising General Equilibrium Analysis

1985 ◽  
Vol 1 (1) ◽  
pp. 23-37 ◽  
Author(s):  
E. Roy Weintraub
Keyword(s):  
General Equilibrium ◽  
Applied Mathematics ◽  
Economic Thought ◽  
Equilibrium Analysis ◽  
Economic Knowledge ◽  
General Equilibrium Analysis ◽  
Theoretical Structure ◽  
Growth Of Knowledge ◽  
Equilibrium Analyses ◽  
Scientific Research Program

General equilibrium analysis is a theoretical structure which focuses research in economics. On this point economists and philosophers agree. Yet studies in general equilibrium analyses are not well understood in the sense that, though their importance is recognized, their role in the growth of economic knowledge is a subject of some controversy. Several questions organize an appraisal of general equilibrium analysis. These questions have been variously posed by philosophers of science, economic methodologists, and historians of economic thought. Is general equilibrium analysis a theory, a paradigm, a scientific research program, or a set of interrelated theories? Is it not any of these but rather a branch of applied mathematics? Is GE analysis associated with the growth of knowledge, or does it waste intellectual resources? How is it related to other work in economics? Is it connected to, or is it apart from, the concerns of applied economists?

The Concept of Real Economic Cycles and Its Role in Evolution of Macroeconomics

2005 ◽  
pp. 144-153 ◽  
Author(s):  
O. Zamulin
Keyword(s):  
Business Cycle ◽  
General Equilibrium ◽  
Nobel Prize ◽  
Rational Expectations ◽  
Imperfect Information ◽  
Historical Perspective ◽  
Sticky Prices ◽  
Business Cycle Theory ◽  
Economic Cycles

The article discusses the contribution of the 2004 Nobel Prize winners in Economics, F. Kydland and E. Prescott, to business cycle theory. To place this contribution in historical perspective, development of macroeconomic science at large, beginning with 1930, is discussed, including the early Keynesian theories, rational expectations revolution, and the modern debate between New Keynesians and New Classicals. Special emphasis is then made on the differences between the modern general equilibrium theories proposed by Kydland and Prescott and the supporters of theories based on sticky prices and imperfect information. The article is concluded by a discussion of room for consensus between these two branches of macroeconomics.

scholarly journals Trade in Carbon and Carbon Tariffs

2021 ◽  
Vol 78 (4) ◽  
pp. 669-708
Author(s):  
Christoph Böhringer ◽  
Jan Schneider ◽  
Emmanuel Asane-Otoo
Keyword(s):  
Cost Effectiveness ◽  
Financial Crisis ◽  
General Equilibrium ◽  
Computable General Equilibrium ◽  
Equilibrium Analysis ◽  
Input Output ◽  
Developing Regions ◽  
Output Analysis ◽  
Global Cost ◽  
Equilibrium Analyses

AbstractCarbon-based import tariffs are proposed as a policy measure to reduce carbon leakage and increase the global cost-effectiveness of unilateral CO2 emission pricing. We investigate the case for carbon tariffs. For our assessment, we combine multi-region input–output and computable general equilibrium analyses based on data from the World Input–Output Database for the period 2000–2014. The multi-region input–output analysis confirms that carbon embodied in trade has increased during this period, but trade flows from Non-OECD to OECD countries became less important in relative terms since the 2007–2008 financial crisis. The computable general equilibrium analysis suggests that carbon tariffs’ efficacy in combating leakage increases in periods when trade in carbon increases. However, its potential to improve the global-cost effectiveness of unilateral emission pricing remains modest. On the other hand, we find that the potential of carbon tariffs to shift the economic burden of CO2 emission reduction from abating developed regions to non-abating developing regions increases sharply between 2000 and 2007, but declines after the financial crisis.

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