CFDP 1426R
The Computation of Counterfactual Equilibria in Homothetic Walrasian Economies
Author(s):Publication Date: June 2003
Revision Date: May 2004
Pages: 13
Abstract:
We propose a nonparametric test for multiple calibration of numerical general equilibrium models, and we present an effective algorithm for computing counterfactual equilibria in homothetic Walrasian economies, where counterfactual equilibria are solutions to the Walrasian inequalities.
Keywords:
Applied general equilibrium analysis, Walrasian inequalities, Calibration
JEL Classification Codes: C63, C68, D51, D58