Stjepanović, Saša and Škare, Marinko (2013) How important are general equilibrium models for small open economies - A case of Croatia. Technologica and economic development of economy, 19 (2). pp. 331-349. ISSN 2029-4921
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This paper develops a general equilibrium model for the Republic of Croatia to evaluate CGE model use in macroeconomic management and forecasting. Since Croatia is a small open country subject to large external shock and growth constraints efficient macroeconomic management framework is fundamental. The lack of data prevents to follow historic economic variables over a longer period of time, which is why CGE models look as possible solution. CGE models use calibration to solve the problem of missing most macroeconomic variables. After developing the model, we use it to run different scenarios for economic policies using a CGE model for Croatia. Results show that CGE model can be an important instrument for policy makers in running macroeconomic policies for small open countries.
| Tip objekta: | Članak |
|---|---|
| Mentor: | NIJE ODREĐENO |
| Dodatne informacije: | 2013/19 |
| Ključni pojmovi: | policy modeling, general equilibrium models, small-open economies, external shocks |
| Teme: | 3 Društvene znanosti > 33 Ekonomija. Ekonomska znanost > 330 Ekonomija općenito > 330.1 Ekonomska znanost. Osnovni ekonomski pojmovi, teorija. Vrijednost. Kapital. Fondovi > 330.101.541 Makroekonomija 3 Društvene znanosti > 33 Ekonomija. Ekonomska znanost > 330 Ekonomija općenito > 330.3 Dinamika gospodarstva. Kretanje gospodarstva > 330.35 Gospodarski rast |
| Odjeli: | Fakultet ekonomije i turizma "Dr. Mijo Mirković" |
| Datum pohrane: | 05 Feb 2014 12:44 |
| Zadnja promjena: | 05 Feb 2014 12:44 |
| URI: | http://eknjiznica.unipu.hr/id/eprint/3057 |
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