scholarly journals Impact of COVID-19 on the US and Texas Economy: A General Equilibrium Approach

2021 ◽  
Vol 16 (4) ◽  
pp. 697-713
Author(s):  
Lirong Liu ◽  
◽  
Steven Shwiff ◽  
Stephanie Shwiff ◽  
Maryfrances Miller ◽  
...  
Keyword(s):  
General Equilibrium ◽  
Computable General Equilibrium ◽  
National Level ◽  
Computable General Equilibrium Model ◽  
Food Services ◽  
The Us ◽  
State And Local ◽  
Current Impact ◽  
Quantitative Economics ◽  
The Impact

This paper examines the impact of COVID-19 on the US and Texas economy using a computable general equilibrium model, REMI PI+. We consider three scenarios based on economic forecasts from various sources, including the University of Michigan’s RSQE (Research Seminar in Quantitative Economics), IMF, and the Wi orld Bank. We report a GDP loss of $106 million (a 6% decline) with 1.2 million jobs lost (6.6%) in Texas in 2020. At the national level, GDP loss is $996 billion (a 5% decline) with 11.5 million jobs lost (5.5%) in the same year. By 2026, the aggregate total GDP loss in Texas ranges from $378 to $629 million. The estimated unemployment rate in Texas in 2021 ranges from 5% to 7.7%, depending on modeling assumptions. The granularity of the CGE results allow examination of the most and least impacted industries. Health Care and Social Assistance, Construction, and Accommodation and Food Services incur the most job loss while State and Local Government and Farm will likely see an increase in jobs for 2020. These insights separate our work from most current impact studies.

scholarly journals Simulating the Impact of Exogenous Food Price Shock on Agriculture and the Poor in Nigeria: Results from a Computable General Equilibrium Model

2012 ◽  
Vol 1 (2) ◽  
pp. 141
Author(s):  
Nkang Nkang ◽  
Bolarin Omonona ◽  
Suleiman Yusuf ◽  
Omobowale Oni
Keyword(s):  
General Equilibrium ◽  
Computable General Equilibrium ◽  
Import Price ◽  
Computable General Equilibrium Model ◽  
Living Standards ◽  
Rural South ◽  
Poverty Measures ◽  
Imported Food ◽  
Food Price Shock ◽  
The Impact

<p>Motivated by the recent global economic crisis, this paper simulated the impact of a rise in the price of imported food on agriculture and household poverty in Nigeria using a computable general equilibrium (CGE) model and the Foster, Greer and Thorbecke (FGT) class of decomposable poverty measures on the 2006 social accounting matrix (SAM) of Nigeria and the updated 2004 Nigeria Living Standards Survey (NLSS) data. Results show that a rise in import price of food increased domestic output of food, but reduced the domestic supply of other agricultural commodities as well as food and other agricultural composites. Furthermore, a rise in the import price of food increased poverty nationally and among all household groups, with rural-north households being the least affected by the shock, while their rural-south counterparts were the most affected. A major policy implication drawn from this paper is that high import prices in import competing sectors like agriculture tend to favour the sector but exacerbate poverty in households. Thus, efforts geared at addressing the impact of this shock should strive to balance welfare and efficiency issues.</p>

SIMULASI PENGELUARAN PEMERINTAH DAN DAMPAKNYA TERHADAP KINERJA EKONOMI MAKRO: SUATU MODEL COMPUTABLE GENERAL EQUILIBRIUM

2020 ◽  
Vol 1 (2) ◽  
Author(s):  
Indra Maipita
Keyword(s):  
General Equilibrium ◽  
Government Spending ◽  
Computable General Equilibrium ◽  
Household Income ◽  
Positive Impact ◽  
Computable General Equilibrium Model ◽  
Electricity Sector ◽  
Construction Sector ◽  
Macroeconomic Performance ◽  
The Impact

This study analyzes the impact of increased government spending on macroeconomic performance, using AGEFIS; a Computable General Equilibrium Model. Simulations carried out with the three scenarios in the sector Construction, Electricity, and Land Transportation. The simulation results shows that, in general, an increase in government spending have a positive impact on macroeconomic performance and increase household income. increase in government spending in the Construction sector provides better impact on increasing household income compared with other sectors, while in the electricity sector have no effect

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