Really a macro model rather than a true CGE model because it has only one sector. However, the Ramsey model is a useful reference case because it is the simplest model having intertemporal optimization with foresight.
Basic information about the particular version of the Ramsey Model contained in the files below.
Steady State Ramsey Model in Ox
The files below are an implementation of the Ramsey model in the Ox language
and the output for a sample simulation. To use the model you'll also need a copy of newton.ox
, an Ox implementation of Newton's Method.
Intertemporal Ramsey Model in Gempack
The links below provide the files needed to implement an intertemporal version of the Ramsey model in Gempack
. The only difference between the two versions is where the base case data is stored. The models themselves are identical. The base case data is the steady state solution obtained via Ox program above.
Intertemporal Ramsey Model in Excel
The link below provides a very simple intertemporal version of the Ramsey model in Excel.
Site Index |
Peter J Wilcoxen, The Maxwell School, Syracuse University