Frontiers in Applied General Equilibrium Modeling

April 5-6, 2002

Welcoming Remark, John Geanakoplos (Yale University)
SESSION I: Algorithms for Solving Intertemporal and Stochastic Models — Chair: Donald J. Brown (Yale University)
  Kenneth L. Judd (Hoover Institution, Stanford University), “Solving Dynamic Stochastic Competitive General Equilibrium Models” (Abstract)
    Discussant: Herbert E. Scarf (Yale University)
  Michael C. Ferris (University of Wisconsin), “Mathematical Programs with Equilibrium Constraints: Automatic Reformulation and Solution via Constrained Optimization” (with A. Meeraus, and S. Dirkse, GAMS)
    Discussant: Thomas Rutherford (University of Colorado) (Abstract)
SESSION II: Stochastic General Equilibrium and Real Business Cycles — Chair: Jerry Green (Harvard Business School)
  José-Victor Ríos-Rull (University of Pennsylvania, NBER, CEPR, IAERP), “Interest Rate Shocks and Household Defaults: How Big Are Credit Crunches” (Abstract)
    Discussant: Eduardo Engel (Yale University)
  Edward C. Prescott (University of Minnesota, FRB of Minneapolis), “Non-Convexities in Applied General Equilibrium Analyses of Business Cycles” (Abstract)
    Discussant: Thomas Sargent (Hoover Institution, Stanford University)
SESSION III: Applications: Finance and Environment — Chair: William C. Brainard (Yale University)
  Aloisio Araujo (IMPA), “Frontiers in General Equilibrium Applied to Finance” (with Mario Pascoa, IMPA) (Abstract)
    Discussant: John Geanakoplos (Yale University)
  Alan Manne (Stanford University), “General Equilibrium Models for Global Climate Change” (Abstract)
   Discussant: Kirit Parikh (IGIDR, Mumbai)
SESSION IV: Validation and Policy Use — Chair: Ray C. Fair (Yale University)
  Timothy Kehoe (University of Minnesota & FRB of Minneapolis), “An Evaluation of the Performance of Applied General Equilibrium Models of the Impact of NAFTA” (Abstract)
    Discussant: Jaime Serra (SAI, Mexico City)
  Shantayanan Devarajan (World Bank), “The Impact of AGE Models on Policy” (with Sherman Robinson, IFPRI)
    Discussant: Anne Krueger (IMF)
SESSION V: Calibration and Estimation — Chair: Steven Berry (Yale University)
  James Heckman (University of Chicago), “Simulation and Estimation of Hedonic Equilibrium Models” (with Rosa L. Matzkin, Northwestern University and Lars Nesheim, University College London) (Abstract)
    Discussant: Michael Keane, Yale University
  Dale Jorgenson (Harvard University), “Lifting the Burden: Tax Reform, the Cost of Capital and U.S. Economic Growth” (with Kun-Young Yun, Yonsei University) (Abstract)
    Discussant: John Shoven (Stanford University)
SESSION VI: Applications: Poverty, Development and Trade — Chair: Thomas Hertel (Purdue University)
  François Bourguignon (DELTA, Paris), “Representative vs. Real Households in CGE Modeling of Inequality” (with A. S. Robilliard and Sherman Robinson, IFPR) (Abstract)
    Discussant: T. N. Srinivasan (Yale University)
  John Whalley (University of Western Ontario), “Decomposing Wage Inequality. Change into Trade and Technology Components Using General Equilibrium Models” (with L. Abrego, IMF) (Abstract)
    Discussant: Alan Deardorff (University of Michigan)