engleski

Using Computable General Equilibrium Models to Analyze an Economy in Transition

Computable General Equilibrium models can be used to analyze market processes in an economy described by real world data. Based on input-output tables and the income and production accounts they can simulate changes which a shock in an exogenous variable will produce throughout an economy. Implemented in GAMS and placed in an international framework by using the GTAP database, they can be accessible and useful tools for economic policy makers when they wish to evaluate the impact of certain policy measures. This paper focuses on the analysis of the impact caused by the trade liberalization which is imminent in Croatia due to its efforts to integrate into the global economy and which is a part of its transition to a market economy.

general equilibrium; trade liberalization; transition

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