By Francisco J. André
This ebook provides a methodological method for the joint layout of financial and environmental regulations. the start line is the statement that, in perform, coverage makers don't frequently have a well-defined target, yet they're commonly focused on a few financial and environmental symptoms that clash with one another. In view of this, coverage making is addressed by way of combining separate analytical techniques: a number of standards choice making (MCDM) and computable normal equilibrium (CGE) modeling. the purpose is to come back up with a methodological framework for coverage layout that's either operational and in line with financial thought. in brief, this booklet bargains a unified view of this novel technique, paying designated realization to the connections among monetary and environmental targets. The methodological foundations are offered in addition to a few actual functions that illustrate the pragmatic worth of the theoretical proposal.
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Extra resources for Designing Public Policies: An Approach Based on Multi-Criteria Analysis and Computable General Equilibrium Modeling
Wald (1951) had already defended Walras’ law and had provided the necessary proofs to demonstrate the existence of equilibrium. The use of differential calculus, topological analysis and the theory of convexity allowed authors like Arrow and Debreu (1954) and others to demonstrate the existence of equilibrium in very general models. The main mathematical tool that they used was, as mentioned earlier, Brouwer’s fixed-point theorem. Scarf (1973) developed a computational algorithm to find fixed points that satisfied the conditions of Brouwer’s fixed-point theorem.
Each agent will have obtained the individual demands and supplies to his or her maximum satisfaction, since the price vector is compatible with the decentralized decisions made by the agents. From this point of equilibrium, we will be ready to simulate and analyse the effects of the different policies applied. This outline of a general equilibrium model assumes, as is traditional, that the economy is modelled under the hypothesis of perfect competition. In Sect. 8g) we discuss some developments of related models under imperfect competition.
The development of econometric general equilibrium models, where models define and estimate the behaviour of consumers or producers in a more complex way. This line of study analyses general equilibrium systems from the point of view of econometrics. Parameters will thus be more appropriately obtained and there will be more feasible chances of validating the models. 3. The definition of models so they can perceive gains or losses in well-being from the distortions generated in the model. Finally, and apart from actual modelling, there is a line of action being developed that has to do with research group cooperation.
Designing Public Policies: An Approach Based on Multi-Criteria Analysis and Computable General Equilibrium Modeling by Francisco J. André