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Computable General Equilibrium
Computable general equilibrium (CGE) models are a class of economic models that use actual economic data to estimate how an economy might react to changes in policy, technology or other external factors. CGE models are also referred to as AGE ( applied general equilibrium) models. A CGE model consists of equations describing model variables and a database (usually very detailed) consistent with these model equations. The equations tend to be neoclassical in spirit, often assuming cost-minimizing behaviour by producers, average-cost pricing, and household demands based on optimizing behaviour. CGE models are useful whenever we wish to estimate the effect of changes in one part of the economy upon the rest. They have been used widely to analyse trade policy. More recently, CGE has been a popular way to estimate the economic effects of measures to reduce greenhouse gas emissions. CGE models account for changes in prices and how they influence the relative use of various factors of p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Model
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. A model may have various exogenous variables, and those variables may change to create various responses by economic variables. Methodological uses of models include investigation, theorizing, and fitting theories to the world. Overview In general terms, economic models have two functions: first as a simplification of and abstraction from observed data, and second as a means of selection of data based on a paradigm of econometric study. ''Simplification'' is particularly important for economics given the enormous complexity of economic processes. This complexity can be attributed to the diversity of factors that determine economic activity; t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Input–output Model
In economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies.Thijs Ten Raa, Input–Output Economics: Theory and Applications: Featuring Asian Economies', World Scientific, 2009 Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model. Origins Francois Quesnay had developed a cruder version of this technique called Tableau économique, and Léon Walras's work ''Elements of Pure Economics'' on general equilibrium theory also was a forerunner and made a generalization of Leontief's seminal concept. Alexander Bogdanov has been credited with originating the concept in a report delivered to the All Russia Conference on the Scientific Organisation of Labour and Production Processes, in January 1921. This approach was also developed by Lev Kritzman. Thomas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Matrix (mathematics)
In mathematics, a matrix (: matrices) is a rectangle, rectangular array or table of numbers, symbol (formal), symbols, or expression (mathematics), expressions, with elements or entries arranged in rows and columns, which is used to represent a mathematical object or property of such an object. For example, \begin1 & 9 & -13 \\20 & 5 & -6 \end is a matrix with two rows and three columns. This is often referred to as a "two-by-three matrix", a " matrix", or a matrix of dimension . Matrices are commonly used in linear algebra, where they represent linear maps. In geometry, matrices are widely used for specifying and representing geometric transformations (for example rotation (mathematics), rotations) and coordinate changes. In numerical analysis, many computational problems are solved by reducing them to a matrix computation, and this often involves computing with matrices of huge dimensions. Matrices are used in most areas of mathematics and scientific fields, either directly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vector (mathematics And Physics)
In mathematics and physics, vector is a term that refers to physical quantity, quantities that cannot be expressed by a single number (a scalar (physics), scalar), or to elements of some vector spaces. Historically, vectors were introduced in geometry and physics (typically in mechanics) for quantities that have both a magnitude and a direction, such as displacement (geometry), displacements, forces and velocity. Such quantities are represented by geometric vectors in the same way as distances, masses and time are represented by real numbers. The term ''vector'' is also used, in some contexts, for tuples, which are finite sequences (of numbers or other objects) of a fixed length. Both geometric vectors and tuples can be added and scaled, and these vector operations led to the concept of a vector space, which is a set (mathematics), set equipped with a vector addition and a scalar multiplication that satisfy some axioms generalizing the main properties of operations on the abov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comparative Statics
In economics, comparative statics is the comparison of two different economic outcomes, before and after a change in some underlying exogenous variable, exogenous parameter. As a type of ''static analysis'' it compares two different economic equilibrium, equilibrium states, after the process of adjustment (if any). It does not study the motion towards equilibrium, nor the process of the change itself. Comparative statics is commonly used to study changes in supply and demand when analyzing a single Market (economics), market, and to study changes in monetary policy, monetary or fiscal policy when analyzing the whole macroeconomics, economy. Comparative statics is a tool of analysis in microeconomics (including general equilibrium analysis) and macroeconomics. Comparative statics was formalized by Sir John Richard Hicks, John R. Hicks (1939) and Paul A. Samuelson (1947) (Kehoe, 1987, p. 517) but was presented graphically from at least the 1870s. For models of stable equili ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Bureau Of Agricultural And Resource Economics
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) is a federal research branch of the Australian Government Department of Agriculture, Fisheries and Forestry, located in Canberra, Australia. ABARES was established on 21 August 1945 as the Bureau of Agricultural Economics (BAE), and is also involved in commercial consultancy. It was merged with the Bureau of Rural Sciences (BRS) in 2010. The main role of ABARES is to provide "professionally independent data, research, analysis and advice that informs public and private decisions affecting Australian agriculture, fisheries and forestry". ABARES maintains the AgSurf database which includes farm survey data on farm performance, production benchmarks, farm management, socioeconomic indicators relating to the grains, beef, sheep and dairy industries in Australia. ABARES has received funding from business and industry groups. ABARES' website notes that "Over half of ABARES' external revenue is deriv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Energy Agency
The International Energy Agency (IEA) is a Paris-based autonomous intergovernmental organization, established in 1974, that provides policy recommendations, analysis and data on the global energy sector. The 31 member countries and 13 association countries of the IEA represent 75% of global energy demand. The IEA was set up under the framework of the Organisation for Economic Co-operation and Development (OECD) in the aftermath of the 1973 oil crisis to respond to physical disruptions in global oil supplies, provide data and statistics about the global Petroleum industry, oil market and Energy industry, energy sector, promote energy savings and conservation, and establish international technical collaboration. Since its founding, the IEA has also coordinated use of the oil reserves that its members are required to hold. By regularly underestimating the role of renewable energies and overestimating the growth of nuclear energy, the IEA promotes the nuclear industry. In subsequen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Victoria University (Australia)
Victoria University (VU or Vic Uni) is an Australian public university, public research university based in Melbourne, Victoria. It is a dual-sector university, providing courses in both higher education and technical and further education (TAFE). The university has several campuses in Melbourne City Centre, Melbourne Central Business District, Melbourne Western Region, and in Sydney and Brisbane, and online. History The idea for a technical school based in the western suburbs of Melbourne was first proposed in 1910. The Footscray Technical School opened its doors to 220 students and 9 teachers in 1916 after five years of fundraising. Charles Hoadley, Charles Archibald Hoadley was the school's Principal (academia), principal from its founding until his death in 1947. Under Hoadley's leadership, the school expanded and began offering Trade certification, trade certificate courses, diplomas in architecture, building, and Outsourcing, contracting, as well as evening classes. War an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Food Policy Research Institute
The International Food Policy Research Institute (IFPRI) is an international research center focused on agriculture and food systems that provides research-based policy solutions to reduce poverty and end hunger and malnutrition throughout low- and middle-income countries in environmentally sustainable ways. For nearly 50 years, IFPRI has worked with policymakers, academics, non-governmental organizations, the private sector, development practitioners, and others to carry out research, capacity strengthening, and policy communications on food systems, economic development, and poverty reduction. IFPRI is a Research Center of CGIAR, the world's largest international agricultural research network, and the only CGIAR center solely dedicated to food policy research. IFPRI's research is supported by more than 185 donors, and through a multi donor trust fund for the CGIAR, which is funded by national governments, multilateral funding and development agencies, and private foundatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Series
In mathematics, a time series is a series of data points indexed (or listed or graphed) in time order. Most commonly, a time series is a sequence taken at successive equally spaced points in time. Thus it is a sequence of discrete-time data. Examples of time series are heights of ocean tides, counts of sunspots, and the daily closing value of the Dow Jones Industrial Average. A time series is very frequently plotted via a run chart (which is a temporal line chart). Time series are used in statistics, signal processing, pattern recognition, econometrics, mathematical finance, weather forecasting, earthquake prediction, electroencephalography, control engineering, astronomy, communications engineering, and largely in any domain of applied science and engineering which involves temporal measurements. Time series ''analysis'' comprises methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data. Time series ''f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of International Economics
The ''Journal of International Economics'' is a peer-reviewed academic journal in the field of economics. The journal publishes articles on both theoretical and empirical aspects of international economics. Various topics covered include trade patterns, commercial policy, international institutions, exchange rates, open economy macroeconomics, international finance, and international factor mobility. Beginning in February 2000 the journal initiated the Bhagwati Award, named in honor of Jagdish Bhagwati. The award is given biannually to the best article appearing in the journal in the preceding two years. The monetary value of the award is $1,000. According to the ''Journal Citation Reports'', the journal has a 2020 impact factor The impact factor (IF) or journal impact factor (JIF) of an academic journal is a type of journal ranking. Journals with higher impact factor values are considered more prestigious or important within their field. The Impact Factor of a journa .. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leif Johansen
Leif Johansen (11 May 1930 – 29 December 1982) was a Norwegian economist who made a substantial contribution to economic science. He was born in Eidsvoll. Throughout his academic career Johansen was employed at the University of Oslo. He was a member of the Norwegian Academy of Science and Letters. Johansen was a lifelong communist, a central board member of the Communist Party of Norway The Communist Party of Norway (, NKP) is a communist party in Norway. The NKP was formed in 1923, following a split in the Norwegian Labour Party. It was Stalinist from its establishment and, as such, supported the Soviet government while oppo ... for twelve years, and was therefore never able to visit the United States, in spite of his many positions and contacts as a researcher. References Bibliography * ''A Multi-sectoral Study of Economic Growth'' (1960) * ''Production Functions. An integration of Micro and Macro, Short Run and Long Run Aspects'', North-Holland Publ. Co., Amsterd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
