A dynamic computable general equilibrium model with working capital for Honduras
In this paper we develop a dynamic real-financial computable general equilibrium (CGE) model for Honduras that incorporates working capital. The model is designed to be useful as a development tool and to be used by policymakers who deal with short-run macro and trade issues. Our model extends previ...
| Autores principales: | , , |
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| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
| Publicado: |
International Food Policy Research Institute
2011
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/153413 |
| _version_ | 1855519759156641792 |
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| author | Morley, Samuel Piñeiro, Valeria Robinson, Sherman |
| author_browse | Morley, Samuel Piñeiro, Valeria Robinson, Sherman |
| author_facet | Morley, Samuel Piñeiro, Valeria Robinson, Sherman |
| author_sort | Morley, Samuel |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | In this paper we develop a dynamic real-financial computable general equilibrium (CGE) model for Honduras that incorporates working capital. The model is designed to be useful as a development tool and to be used by policymakers who deal with short-run macro and trade issues. Our model extends previous modeling work on Honduras in several ways. First, it uses a new, updated social accounting matrix (SAM) for the country. Second, it is a recursive dynamic model that incorporates unemployment of labor in the short run. Most CGE models are not useful for short-run analysis because they are comparative static models that assume full employment. We specify a fixed minimum wage and an informal sector and use a recursive dynamic framework to solve for the short-run adjustment process that occurs as the economy responds to shocks. Finally, the model introduces working capital as an additional factor of production, complementary to physical capital, which allows us to examine the impact of monetary shocks that affect the supply of credit on the balance of payments, employment, and real income during periods of adjustment. |
| format | Artículo preliminar |
| id | CGSpace153413 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2011 |
| publishDateRange | 2011 |
| publishDateSort | 2011 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1534132025-11-06T05:41:34Z A dynamic computable general equilibrium model with working capital for Honduras Morley, Samuel Piñeiro, Valeria Robinson, Sherman computable general equilibrium models economic growth working capital In this paper we develop a dynamic real-financial computable general equilibrium (CGE) model for Honduras that incorporates working capital. The model is designed to be useful as a development tool and to be used by policymakers who deal with short-run macro and trade issues. Our model extends previous modeling work on Honduras in several ways. First, it uses a new, updated social accounting matrix (SAM) for the country. Second, it is a recursive dynamic model that incorporates unemployment of labor in the short run. Most CGE models are not useful for short-run analysis because they are comparative static models that assume full employment. We specify a fixed minimum wage and an informal sector and use a recursive dynamic framework to solve for the short-run adjustment process that occurs as the economy responds to shocks. Finally, the model introduces working capital as an additional factor of production, complementary to physical capital, which allows us to examine the impact of monetary shocks that affect the supply of credit on the balance of payments, employment, and real income during periods of adjustment. 2011 2024-10-01T13:56:07Z 2024-10-01T13:56:07Z Working Paper https://hdl.handle.net/10568/153413 en https://hdl.handle.net/10568/161751 https://hdl.handle.net/10568/160377 Open Access application/pdf International Food Policy Research Institute Morley, Samuel; Piñeiro, Valeria; Robinson, Sherman. 2011. A dynamic computable general equilibrium model with working capital for Honduras. IFPRI Discussion Paper 1130. https://hdl.handle.net/10568/153413 |
| spellingShingle | computable general equilibrium models economic growth working capital Morley, Samuel Piñeiro, Valeria Robinson, Sherman A dynamic computable general equilibrium model with working capital for Honduras |
| title | A dynamic computable general equilibrium model with working capital for Honduras |
| title_full | A dynamic computable general equilibrium model with working capital for Honduras |
| title_fullStr | A dynamic computable general equilibrium model with working capital for Honduras |
| title_full_unstemmed | A dynamic computable general equilibrium model with working capital for Honduras |
| title_short | A dynamic computable general equilibrium model with working capital for Honduras |
| title_sort | dynamic computable general equilibrium model with working capital for honduras |
| topic | computable general equilibrium models economic growth working capital |
| url | https://hdl.handle.net/10568/153413 |
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