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#applied_general_equilibrium

Applied general equilibrium

In mathematical economics, applied general equilibrium (AGE) models were pioneered by Herbert Scarf at Yale University in 1967, in two papers, and a follow-up book with Terje Hansen in 1973, with the aim of empirically estimating the Arrow–Debreu model of general equilibrium theory with empirical data, to provide "“a general method for the explicit numerical solution of the neoclassical model” (Scarf with Hansen 1973: 1)

Tue 28th

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Applied general equilibrium Computable general equilibrium General equilibrium theory Dynamic stochastic general equilibrium Age General algebraic modeling system Macroeconomic model Social accounting matrix Non-equilibrium thermodynamics Equilibrium chemistry
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