..., constructed by the Norwegian economist and communist Leif Johansen, from its publication in 1960 to its implementation in national macroeconomic planning and its wider circulation under the label of “computable general equilibrium models.” In Norway, it became one component of a “system of models,” which, far...

...Charles L. Ballard; Marianne Johnson We examine the evolution of applied, computational general-equilibrium models (AGE), from their inception in the 1970s through the end of the twentieth century. We describe the simultaneous development of several different “strains” of such models, along...

.... Moreover, his death preceded the application of its central mechanism to public, urban, and environmental topics via hedonic, sorting, and computational general equilibrium models. Viewed in this way, the history of Tiebout's article, and thereby the history of public economics, has remarkably little to do...

... policy issues that the Walrasian general equilibrium model does not address can be addressed. These include issues such as toward which basin of attraction the economy will gravitate and how government policy might influence that gravitation. Similarly, new computational technology is allowing economists...

... Charles L. Ballard is professor of economics at Michigan State University. Much of his work has involved the use of computational general-equilibrium models to assess the effects of tax, trade, and environmental policies. His work has appeared in Amer- ican Economic Review, Journal of Public...

... in the 1960s and 1970s were computational (or applied) general equilibrium (CGE, AGE) and large-scale Keynesian macroeconometric modeling, and yet, just as improvements in hardware made it possible to remove some of the simpli¥cations and approximation that constraints on computing power had previously...

... any practical ques- tion that an economist might want to pose” (222). Alas, things are quite different, at least as regards simplified versions of the theory. So-called computable general equilibrium models have been fashionable among large parts of the economics profession and have exerted...

... bequeathed to Angus Deaton upon Stone s death Deaton went on to win a Noble Prize. 28. Computable general equilibrium models are normally based on a social accounting matrix a matrix of interactions in the spirit of the production relationships of input-output analysis, with a much greater emphasis...

... point was 21. As pointed out by Robert Solow (2007, 107), the “powers of our practical methods of calculation” mentioned by Cournot have expanded to the point of the development of “comput- able general equilibrium models” since the 1970s. Indeed, the field of tax incidence was the site...

... Dame. Makowski, Louis, and Joseph M. Ostroy. 1993 . General Equilibrium and Market Socialism: Clarifying the Logic of Competitive Markets. In Market Socialism , edited by Pranab K. Bardhan and John E. Roemer. New York: Oxford University Press. Marschak, Thomas A. 1957 . Centralization...

.... Economic Studies Quarterly 12 : 59 -62. Rolf Mantel and the Computability of General Equilibria: On the Origins of the Sonnenschein-Mantel-Debreu Theorem Fernando Tohmé General equilibrium theory (GET) took the entire edifice of economic theory by storm during the 1950s. Its elegant...

... and Competitive Equilibrium in Two Models of Search and Individual Price Adjustment. Journal of Economic Theory 6.5 : 446 -70. ____. 1976 . The Stability of General Equilibrium: Results and Problems. In Essays in Economic Analysis: Proceedings of the Association of University Teachers of Economics Annual...

... for free oscillations for a wide range of plausible parameters, Frischʼs model allowed only for a monotonic return toward equilibrium. If Clark and Kalecki had seen that “Propagation Problems and Impulse Problems” was an illusion—that it did not allow for the propagation and/or generation...

...Shyam Sunder Duke University Press 2006 Bosch-Domènech, Antoni, and Shyam Sunder. 2000 . Tracking the Invisible Hand: Convergence of Double Auctions to Competitive Equilibrium. Computational Economics 16.3 : 257 -84. Chamberlin, Edward H. 1948 . An Experimental Imperfect Market...

.... , 50 – 59 . Washington, DC : Board of Governors of the Federal Reserve System . Lucas Robert E . 1973 . “ Some International Evidence on Output-Inflation Tradeoffs .” American Economic Review 63 , no. 3 : 326 – 34 . Lucas Robert E . 1975 . “ An Equilibrium Model...

... of the Sonnenschein-Mantel-Debreu result (Sonnenschein 1972; Mantel 1976; Debreu 1974). According to this, aggre- gate excess demand functions arising in general equilibrium models were generally arbitrary, except that they satisfied Walras’s law and a form of continuity.7 As it turned out, no general results...

... the Cowles program with strong sup­ port. Irma and Frank Adelman’s computer simulation showed that the Klein-Goldberger model of the U.S. economy, when shocked by distur­ bances, could generate cycles comparable in their properties to those of the United State economy (1959). Indeed...

... in an Economy with Production: A Selective Survey of Recent Works on Asset Pricing Models. In General Equilibrium, Growth, and Trade , edited by J. Green and J. Scheinkman, 165 -90. New York: Academic Press. Brock, W., and L. Mirman. 1972 . Optimal Economic Growth and Uncertainty: The Discounted Case...

... cooperative game theory, various quasi-structural models of sequen- tial trade, a smorgasbord of possible dynamical mechanisms to be super- imposed upon general equilibrium, and mechanism design. Is there a sense in which every conceptual thesis of microeconomics has not been confronted with its...

... the eighties.27 Although Braverman s work was motivated by similar theoretical sources (John Maynard Keynes and the Arrow-Debreu general equilibrium model) and the urge for a more real- istic description of the economy shared by all these theorists, his approach was essentially different from conventional...