Parameter estimation for a computable general equilibrium model: a maximum entropy approach
We introduce a maximum entropy approach to parameter estimation for computable general equilibrium (CGE) models. The approach applies information theory to estimating a system of nonlinear simultaneous equations. It has a number of advantages. First, it imposes all general equilibrium constraints. S...
| Main Authors: | , , |
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| Format: | Artículo preliminar |
| Language: | Inglés |
| Published: |
International Food Policy Research Institute
1999
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10568/161320 |
| _version_ | 1855515398321995776 |
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| author | Arndt, Channing Robinson, Sherman Tarp, Finn |
| author_browse | Arndt, Channing Robinson, Sherman Tarp, Finn |
| author_facet | Arndt, Channing Robinson, Sherman Tarp, Finn |
| author_sort | Arndt, Channing |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | We introduce a maximum entropy approach to parameter estimation for computable general equilibrium (CGE) models. The approach applies information theory to estimating a system of nonlinear simultaneous equations. It has a number of advantages. First, it imposes all general equilibrium constraints. Second, it permits incorporation of prior information on parameter values. Third, it can be applied in the absence of copious data. Finally, it supplies measures of the capacity of the model to reproduce the historical record and the statistical significance of parameter estimates. The method is applied to estimating a CGE model of Mozambique. |
| format | Artículo preliminar |
| id | CGSpace161320 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 1999 |
| publishDateRange | 1999 |
| publishDateSort | 1999 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1613202025-11-06T05:14:38Z Parameter estimation for a computable general equilibrium model: a maximum entropy approach Arndt, Channing Robinson, Sherman Tarp, Finn equilibrium theory models computable general equilibrium models estimation theory We introduce a maximum entropy approach to parameter estimation for computable general equilibrium (CGE) models. The approach applies information theory to estimating a system of nonlinear simultaneous equations. It has a number of advantages. First, it imposes all general equilibrium constraints. Second, it permits incorporation of prior information on parameter values. Third, it can be applied in the absence of copious data. Finally, it supplies measures of the capacity of the model to reproduce the historical record and the statistical significance of parameter estimates. The method is applied to estimating a CGE model of Mozambique. 1999 2024-11-21T09:54:53Z 2024-11-21T09:54:53Z Working Paper https://hdl.handle.net/10568/161320 en Open Access application/pdf International Food Policy Research Institute Arndt, Channing; Robinson, Sherman; Tarp, Finn. 1999. Parameter estimation for a computable general equilibrium model: a maximum entropy approach. TMD Discussion Paper 40. https://hdl.handle.net/10568/161320 |
| spellingShingle | equilibrium theory models computable general equilibrium models estimation theory Arndt, Channing Robinson, Sherman Tarp, Finn Parameter estimation for a computable general equilibrium model: a maximum entropy approach |
| title | Parameter estimation for a computable general equilibrium model: a maximum entropy approach |
| title_full | Parameter estimation for a computable general equilibrium model: a maximum entropy approach |
| title_fullStr | Parameter estimation for a computable general equilibrium model: a maximum entropy approach |
| title_full_unstemmed | Parameter estimation for a computable general equilibrium model: a maximum entropy approach |
| title_short | Parameter estimation for a computable general equilibrium model: a maximum entropy approach |
| title_sort | parameter estimation for a computable general equilibrium model a maximum entropy approach |
| topic | equilibrium theory models computable general equilibrium models estimation theory |
| url | https://hdl.handle.net/10568/161320 |
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