Economic downturn coupled with serious and persisting environmental problems require a
new regulation system to tackle these problems. The Portuguese government created the …

This chapter reviews the literature on applied general equilibrium analysis of agricultural
and resource policies. It begins with a historical overview, followed by an assessment of the …

The possibility that workers could be adversely affected by increasingly stringent
environmental policies has led to claims of a “jobs versus the environment” trade-off by both …

Using applied general equilibrium methods to analyze recent debates about the conduct of
US foreign trade policy, de Melo and Tarr show that in terms of costs to the economy and to …

Computable general equilibrium (CGE) models are among the most influential tools in
applied economics. However, some serious questions have been raised about the empirical …

We discuss the use of calibration techniques in economic models. Calibration contrasts with
estimation in relying on deterministic calculation of model parameter values consistent with …

This study focused on the choice of functional forms and their parametrization (estimation of
free parameters and calibration of other parameters) in the context of CGE models. Various …

Using a panel of observations from the US electric utility industry, we analyze the output set
frontiers that are produced by modeling the technology with different functional forms. Our …

The introduction of directional distance functions has given researchers an alternative to
Shephard distance functions. In this paper we conduct a Monte Carlo study to investigate the …

A key parameter that determines the distributional impacts of a policy shift in general
equilibrium models is the elasticity of substitution between capital and labor. Despite the …