The Maxwell School
Syracuse University
Peter J Wilcoxen
>
Computational General Equilibrium
Model Design
How to design an appropriate model for a given task. Choosing the number and type of agents; modeling the behavior of households and firms.
Overarching Issues
Intertemporal Optimization
Functional Forms
A list of commonly used functional forms. Also contains a link to a PDF quick reference guide.
Data Availability
Households
Consumption
Demand systems for goods and services; income elasticities; functional forms.
Saving
Permanent income model; extended linear expenditure system; Keynesian consumption function.
Labor Supply
Firms
Production
Factor demand systems; constant returns to scale and zero profits; increasing returns to scale; joint production.
Investment
Sector-specific capital; costs of adjustment; time to build.
International
Trade
Finance
Additional Resources
Selected Readings
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URL: https://cleanenergyfutures.insightworks.com/pages/401.html
Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 09/05/2004
