Dynamic General Equilibrium Modeling Using GAMS
The course will introduce all the basic tools for constructing and implementing large-scale multi-national and multi-sectoral dynamic intertemporal general equilibrium models for policy analysis. By the end of the course the participants will have acquired detailed knowledge of and extensive hands-on experience in:
- the structure of dynamic models,
- building the database for such models,
- introducing imperfect competition in the models,
- building dynamic intertemporal models,
- introducing forward-looking expectations,
- building regional and multinational intertemporal models,
- implementing the model on the computer using the GAMS software,
- advanced features of the GAMS software,
- formulating scenarios and running policy simulations,
- reporting and interpreting the results.
The course uses a practical and very intensive approach to model building. The participants will actually build the 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 of EcoMod.