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Cowles Foundation for
Research in Economics
FRONTIERS IN APPLIED GENERAL EQUILIBRIUM MODELING
April 5–6, 2002
Luce Hall, 34 Hillhouse Avenue |
| FRIDAY |
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Welcoming Remark, John Geanakoplos, Yale
University |
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1:30–3:00 |
SESSION I: Algorithms for Solving
Intertemporal and Stochastic Models — Chair: Donald J. Brown, Yale University |
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Kenneth L. Judd, Hoover Institution,
Stanford University, "Solving Dynamic Stochastic Competitive General Equilibrium
Models" Abstract
Discussant: Herbert E. Scarf, Yale University |
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Michael C. Ferris, University of Wisconsin
(with A. Meeraus, and S. Dirkse, GAMS), "Mathematical Programs with Equilibrium
Constraints: Automatic Reformulation and Solution via Constrained Optimization" Abstract
Discussant: Thomas Rutherford, University of Colorado |
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3:30–5:00 |
SESSION II: Stochastic General Equilibrium
and Real Business Cycles — Chair: Jerry Green, Harvard Business School |
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José-Victor Ríos-Rull, University of
Pennsylvania, NBER, CEPR, IAERP, "Interest Rate Shocks and Household Defaults: How
Big Are Credit Crunches" Abstract
Discussant: Eduardo Engel, Yale University |
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Edward C. Prescott, University of
Minnesota, FRB of Minneapolis, "Non-Convexities in Applied General Equilibrium
Analyses of Business Cycles" Abstract
Discussant: Thomas Sargent, Hoover Institution, Stanford University |
| SATURDAY |
9:00–10:30 |
SESSION III: Applications: Finance and
Environment — Chair: William C. Brainard, Yale University |
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Aloisio Araujo, IMPA, "Frontiers in
General Equilibrium Applied to Finance" (with Mario Pascoa, IMPA) Abstract
Discussant: John Geanakoplos, Yale University |
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Alan Manne, Stanford University,
"General Equilibrium Models for Global Climate Change" Abstract
Discussant: Kirit Parikh, IGIDR, Mumbai |
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11:00–12:30 |
SESSION IV: Validation and Policy Use
— Chair: Ray C. Fair, Yale University |
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Timothy Kehoe, University of Minnesota and
FRB of Minneapolis, "An Evaluation of the Performance of Applied General Equilibrium
Models of the Impact of NAFTA" Abstract
Discussant: Jaime Serra, SAI, Mexico City |
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Shantayanan Devarajan, World Bank,
"The Impact of AGE Models on Policy" (with Sherman Robinson, IFPRI) Abstract
Discussant: Anne Krueger, IMF |
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1:30–3:00 |
SESSION V: Calibration and Estimation
— Chair: Steven Berry, Yale University |
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James Heckman, University of Chicago,
"Simulation and Estimation of Hedonic Equilibrium Models" (with Rosa L. Matzkin,
Northwestern University) and Lars Nesheim, University College London) Abstract
Discussant: Michael Keane, Yale University |
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Dale Jorgenson, Harvard University (with
Kun-Young Yun, Yonsei University), "Lifting the Burden: Tax Reform, the Cost of
Capital and U.S. Economic Growth" Abstract
Discussant: John Shoven, Stanford University |
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3:30–5:00 |
SESSION VI: Applications: Poverty,
Development and Trade — Chair: Thomas Hertel, Purdue University |
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François Bourguignon, DELTA, Paris,
"Representative vs. Real Households in CGE Modeling of Inequality" (with A.S.
Robilliard and Sherman Robinson, IFPR) Abstract
Discussant: T.N. Srinivasan, Yale University |
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John Whalley, University of Western
Ontario, "Decomposing Wage Inequality. Change into Trade and Technology Components
Using General Equilibrium Models" (with L. Abrego, IMF) Abstract
Discussant: Alan Deardorff, University of Michigan |
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