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Description
Partial equilibrium analysis illustrates results for one market at a time. However, there often exist market interactions and thus market feedbacks. Pricing outcomes in one market usually have effects in other markets, and these effects, in turn, create ripples throughout the economy, perhaps even to the extent of affecting the price-quantity equilibrium in the original market. To represent this complex set of economic relationships, it is necessary to go beyond partial equilibrium analysis and construct a model that permits viewing many markets simultaneously. This Web Book provides an introduction to and overview of the general equilibrium modeling framework in the context of regional analysis.
Publication Date
2020
Publisher
Regional Research Institute, West Virginia University
Original Publication Information
1999
City
Morgantown
Keywords
Equilibrium modeling; equilibrium analysis, regional analysis, general equilibrium modeling
Recommended Citation
Vargas, E.E, Schreiner D.F., Tembo G., & Marcouiller, D.W. (1999). Computable General Equilibrium Modeling for Regional Analysis. Reprint. Edited by Scott Loveridge and Randall Jackson. WVU Research Repository, 2020.
All Web Book material, including text and graphics, is available to users for personal use and may not be redistributed in whole or in part, in print, online, or on electronic media (e.g., CD). Permission for reprinting images and text from the Web Book of Regional Science must be obtained from the Regional Research Institute to which all users must comply.