Computable general equilibrium modelling in regional science

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Abstract

Computable General Equilibrium (CGE) modelling has a long and distinguished history in regional science. In the past decade or so, improvements in computation have led to more elaborate and detailed CGE models being developed and used in a range of different policy areas. Against a backdrop of these advances, this chapter seeks to identify and review a number of areas where we see the potential for significant developments in CGE modelling in the years ahead. Specifically, we first consider potential improvements in computation, model specification and methodology, before looking in more detail at three areas where these models are used, or could be used, with a view to identifying avenues where model improvements would be valuable. These three areas are: urban and spatial modelling, model integration with other systems and models, and regional fiscal issues. CGE modelling has a bright future in regional science, but to remain at the forefront of economic research in regional science it must continue to adapt and evolve as, historically it has done, and we hope that the directions identified in this chapter are helpful to the future direction of this field.
Original languageEnglish
Title of host publicationRegional Research Frontiers
Subtitle of host publicationMethdological advances, regional systems modelling and open sciences
EditorsRandall Jackson, Peter Schaeffer
Place of PublicationCham
PublisherSpringer International Publishing AG
Pages59-78
Number of pages33
Volume2
ISBN (Print)9783319505893
DOIs
Publication statusPublished - 18 Apr 2017

Publication series

NameAdvances in Spatial Science: The Regional Science Series
PublisherSpringer International Publishing
ISSN (Print)1430-9602

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Keywords

  • computable general equilibrium
  • regional science
  • model specification
  • urban modelling
  • spatial modelling
  • model integration
  • regional fiscal issues

Cite this

Allan, G. J., Lecca, P., McGregor, P. G., McIntyre, S. G., & Swales, J. K. (2017). Computable general equilibrium modelling in regional science. In R. Jackson, & P. Schaeffer (Eds.), Regional Research Frontiers: Methdological advances, regional systems modelling and open sciences (Vol. 2, pp. 59-78). (Advances in Spatial Science: The Regional Science Series). Cham: Springer International Publishing AG. https://doi.org/10.1007/978-3-319-50590-9_4