Authors: Mark Horridge and Ken Pearson
We describe the progress of computable general equilibrium (CGE) modeling software since the 1980s and contrast the main systems used today: GAMS, MPSGE, and GEMPACK. The development of these general-purpose modeling systems has underpinned rapid growth in the use of CGE models and allowed models to be shared and their results replicated. We show how a very simple model may be implemented and solved in all 3 systems. We note that they produce the same numerical results but have different strengths. We conclude by considering some challenges for the future
JEL classification: C63, C68, D58.
Keywords: CGE, software, GAMS, GEMPACK, MPSGE.
A later version of this paper appears in the Handbook of Computable General Equilibrium Modeling, Volume 1, pages 1331-1381, edited by Peter B. Dixon and Dale W. Jorgenson, and published by Elsevier in 2013. It may be downloaded here.
Working Paper Number G-214 can be downloaded in PDF format. To print this you will need the Adobe Acrobat Reader.
Go to working papers page