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Costs and Benefits of Incorporating Asset Markets into CGE Models: Evidence and Design Issues.

Abstract:
This paper discusses how a consistent treatment of asset markets may be integrated into standard trade-focussed CGE models. Starting from a core specification of the real economy, calibrated to data for Zambia in the mid-1990s, the paper examines the properties of a hierarchy of models which differ only in the specification of asset markets but subject to a common (negative) temporary fiscal shock.

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Authors


Christopher S. Adam More by this author
David L. Bevan More by this author
Series:
Discussion paper series
Publication date:
1998
URN:
uuid:e6cc4faa-f345-4ba9-9d88-248bf24ce38e
Local pid:
oai:economics.ouls.ox.ac.uk:12114
Language:
English

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