Search
Login

Computable General Equilibrium (CGE) Models: A Comprehensive Review and Future Directions

Abstract
This comprehensive analysis delves into the landscape of Computable General Equilibrium (CGE) models examining their historical development key components applications strengths limitations and future directions. CGE models have become indispensable tools for understanding the intricate dynamics of modern economic systems offering a holistic perspective that considers the complex interactions among sectors households and governments. The study reveals the strengths of CGE models including their capacity to provide a comprehensive view of the economy analyse policy interactions and incorporate behavioural responses. However challenges such as data limitations and simplifying assumptions pose inherent limitations. The analysis identifies promising future directions including the integration of machine learning leveraging big data and advancing computational power. By addressing current challenges and embracing these innovations CGE models can continue to play a pivotal role in economic analysis and policymaking navigating the complexities of a dynamic and evolving economic landscape.
Authors
Taiwo Bolarinwa Taiwo Bolarinwa: University of Abuja Nigeria
Keywords
Economic landscape ; Computable General Equilibrium (CGE) ; Computational power ; Policy interactions. (search for similar items in EconPapers)
Rank
0.29
Search
Machine Learning
Series
Management and Economics Review 2024 vol. 9 issue 1 158-167
Time Added
2024/03/18 03:32
Total Downloads
0
Year Published
2024
TOP