Modeling with Impact

Overlapping Generation General Equilibrium Modeling with GAMS

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Intensive course at the advanced level. This course is only accessible to those who have some experience in dynamic general equilibrium modeling with GAMS and to the EcoMod alumni.

OLG models are very useful in the analysis of a large number of important policy issues such as government tax and expenditure, social security reform, welfare state, aging, international trade, demographic issues, fertility, education, human capital, growth, migration, labor market, environmental issues, intergenerational equity, etc.

Assumed Background
This course is only accessible to the alumni of the Practical Course in Economic Modeling (in the EcoMod Modeling School or on the EcoMod on-line courses), or to those who have some experience in general equilibrium modeling and in GAMS.

Course objective: 

The course will introduce all the basic tools for constructing and implementing overlapping generations general equilibrium (OLG-GE) models with perfect foresight and finite lifetimes. By the end of the course the participants will have acquired detailed knowledge of and extensive hands-on experience in:

  • modeling dynamic consumption behavior in OLG-GE models,
  • modeling dynamic production behavior in OLG-GE models,
  • modeling forward-looking expectations,
  • modeling tax and social security systems,
  • building the database for such models,
  • introducing complicated population dynamics and population aging,
  • implementing the model on the computer using the GAMS software,
  • formulating scenarios and running policy simulations,
  • reporting and interpreting the results.
Methodology: 

The course uses a practical  and very intensive approach to model building. The participants will actually build an overlapping generations general equilibrium model step-by-step with guidance from the instructors: from small to large scale and from simple to complex structure. The participants will acquire extensive practical hands-on experience in building a complex, large-scale model. This will allow them to easily implement the first version of their own model using the GAMS codes.

Fees:
The fee for the course is US$3,425. This includes course materials (including a free course license of GAMS for two months), lectures, computer labs, morning and afternoon coffee breaks, receptions.

University students and staff get a discount of 25 percent of the above mentioned amount. Please send (by email: office@ecomod.net or by fax: +1 413 517 0900) a copy of your student or staff card.

Institutional group rates are available for two or more persons attending during the same course period.  Please inquire.

Scholarships:
EcoMod offers a limited number of partial scholarships to candidates from developing countries and transition economies. To submit your application, please click here. The deadline to apply for a scholarship is two months before the beginning of the course.