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This book provides an accessible, undergraduate-level introduction to computable general equilibrium (CGE) models, a class of model that has come to play an important role in government policy decisions. The book uses a graphical approach to explain the economic theory that underlies a CGE model, and provides results from simple, small-scale CGE models to illustrate the links between theory and model outcomes. The book includes eleven guided, hands-on exercises that introduce modeling techniques that are applied to real-world economic problems. Students will learn how to integrate their separate fields of economic study into a comprehensive, general equilibrium perspective as they develop their skills as producers or consumers of CGE-based analysis.

Computable general equilibrium models. --- Equilibrium (Economics) --- CGE models --- Equilibrium models, Computable general --- General equilibrium models, Computable --- Econometric models --- Mathematical models.

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After an impressive acceleration in growth and poverty reduction since the mid-1990s, many African countries continue to register robust growth in the aftermath of the global financial crisis. Will this growth persist, given the tepid recovery in developed countries, numerous weather shocks, and civil conflicts in Africa? This paper "stress tests" African economies. The findings indicate that Africa's long-term growth is fairly impervious to a prolonged recession in high-income countries. Growth is, however, much more sensitive to a disruption of capital flows to the region, and to internal shocks, such as civil conflict and drought, even if the latter follow historical patterns. The broad policy implication is that with proper domestic production conditions African countries can sustain robust long-term growth. Because of the economic dominance of the agriculture sector and the share of food in household budgets, countries will need to increase the resilience of agriculture and protect it from unfavorable climate change impacts, such as drought. As in the past, civil conflicts and violence will pose by far the greatest threat to Africa's performance.

Achieving Shared Growth --- Climate Change Economics --- Computable general equilibrium (CGE) models --- Economic development --- Economic Theory & Research --- Emerging Markets --- Macroeconomics and Economic Growth --- Poverty --- Rural Poverty Reduction --- Africa

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If trade tensions between the United States and certain trading partners escalate into a full-blown trade war, what should developing countries do? Using a global, general-equilibrium model, this paper first simulates the effects of an increase in U.S. tariffs on imports from all regions to about 30 percent (the average non-Most Favored Nation tariff currently applied to imports from Cuba and the Democratic Republic of Korea) and retaliation in kind by major trading partners-the European Union, China, Mexico, Canada, and Japan. The paper then considers four possible responses by developing countries to this trade war: (i) join the trade war; (ii) do nothing; (iii) pursue regional trade agreements (RTAs) with all regions outside the United States; and (iv) option (iii) and unilaterally liberalize tariffs on imports from the United States. The results show that joining the trade war is the worst option for developing countries (twice as bad as doing nothing), while forming RTAs with non-U.S. regions and liberalizing tariffs on U.S. imports ("turning the other cheek") is the best. The reason is that a trade war between the United States and its major trading partners creates opportunities for developing countries to increase their exports to these markets. Liberalizing tariffs increases developing countries' competitiveness, enabling them to capitalize on these opportunities.

Armed conflict --- CGE models --- Conflict and development --- Energy --- International economics and trade --- International trade and trade rules --- Regional trade --- Rules of origin --- Trade disputes --- Trade liberalization --- Trade policy --- Trade war

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This book focuses on the World Bank projects, led by the author, based on computable general equilibrium models of international trade policy. The chapters show an unusual combination of policy relevance, advice and impact, with academic rigor and international trade theory insights. The author discusses some of the policy contexts for the requests from developing and transition countries to the World Bank, the key trade theory or policy insights, policy recommendations and conclusions, and the policy impacts. Sample Chapter(s). Chapter 1: Introduction and Overview (283 KB). Contents: Introduc

Commercial policy. --- International trade --- Computable general equilibrium models. --- CGE models --- Equilibrium models, Computable general --- General equilibrium models, Computable --- Econometric models --- Foreign trade policy --- International trade policy --- Trade policy --- Economic policy --- International economic relations --- Econometric models. --- Government policy --- Commercial policy --- Computable general equilibrium models --- E-books

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Economic policy and planning (general) --- Tanzania --- Système politique --- political systems --- Économie planifiée --- Centrally planned economies --- Politique de marché --- Marketing policies --- Indicateur économique --- Economic indicators --- Politique économique --- Economic policies --- Secteur agricole --- agricultural sector --- Industrie --- industry --- Planification sectorielle --- Sectoral planning --- Modèle --- Models --- République-Unie de Tanzanie --- United Republic of Tanzania --- Equilibrium (Economics) --- -Mathematical models --- Economic conditions --- -Economic policy. --- Politics and government --- -Equilibrium (Economics) --- Mathematical models. --- Economic policy. --- -Economic policy and planning (general) --- Computable general equilibrium models --- CGE models --- Equilibrium models, Computable general --- General equilibrium models, Computable --- Econometric models --- Mathematical models