Logo
Munich Personal RePEc Archive

Dynamic Multi-Sector CGE Modeling -- Reply to Assmann and Hogrefe

Wendner, Ronald and Farmer, Karl (2008): Dynamic Multi-Sector CGE Modeling -- Reply to Assmann and Hogrefe.

[thumbnail of MPRA_paper_9494.pdf]
Preview
PDF
MPRA_paper_9494.pdf

Download (110kB) | Preview

Abstract

Farmer and Wendner (2004) consider the sensitivity of policy effects, as implied by dynamic multi-sector computable general equilibrium models, with respect to the specification of capital and investment aggregation. They demonstrate that (small) differences in the specification of capital and investment aggregation may yield large differences in the policy effects predicted by dynamic multi-sector computable general equilibrium models. Assmann and Hogrefe, AH in the following, conclude that Farmer and Wendner's (FW) result indeed also holds in different model frameworks. However, they criticize FW's model that is based on the ``puzzling'' value capital approach. Here, FW reply to AH's critique.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.