Advanced Techniques in General Equilibrium Modeling with GAMS
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| Monday |
What will you learn and implement?
A refresher in GAMS.
How to use GAMS-IDE.
What are the advanced features of GAMS.
Which GAMS solvers to use in modeling.
What is the best strategy in large-scale complex model development.How to build a static general equilibrium model with perfect competition.
Introduction to the model EcoMod1A (preparation for imperfect competition).
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| Tuesday |
What will you learn and implement?
How to introduce imperfect competition:
- Introduction: Imperfect competition - why bother?
- Alternative models of imperfectly competitive firm conduct
- Models with intra-industry product homogeneity
- Cournot oligopoly
- Conjectural variations
- Models with intra-industry product differentiation
- Love of variety: The algebra of Dixit-Stiglitz preferences
- Monopolistic competition
- Bertrand oligopoly
- Cournot oligopoly.
- Practical Computer Lab exercises
- Introducing imperfect competition and increasing returns.
- Modifications of the GAMS code
- Calibration of the additional model parameters
- Reporting industrial organization effects
- Simulations of a tax policy shock under alternative assumptions about firm conduct
- Open economy extensions.
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| Wednesday |
What will you learn and implement?
Imperfect competition: open economy extensions.
A refresher course in mathematical optimization.
How to derive the first-order conditions.
Forward-looking expectations.
Finite-horizon approximation of infinite-horizon dynamics.
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| Thursday |
What will you learn and implement?
How to build a dynamic intertemporal partial equilibrium model for the consumer.
How to build a dynamic intertemporal partial-equilibrium model for the producer.
How to calibrate it.
How to close it.
How to implement it in GAMS.
How to run simulations.
How to build a single country open economy dynamic intertemporal general equilibrium model.
How to calibrate it.
How to close it.
How to implement it in GAMS.
How to run simulations.
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| Friday |
What will you learn and implement?
How to build a single country closed economy dynamic intertemporal general equilibrium model.
How to build the database.
How to build a dynamic intertemporal multi-national model.
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