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Dynamic general equilibrium models

G-Cubed, APG-Cubed – developed by Professors Warwick McKibbin and Peter Wilcoxen, the models connect two strands of quantitative economic modelling – traditional multi-sectoral general equilibrium models which capture sectoral linkage and interaction and macroeconomic models which are mostly dynamic and have full macroeconomic closure. The CIE has been using the models extensively for analysis of trade, environmental, fiscal and monetary policies. See the CIE report International Measures to Reduce Carbon Dioxide Emissions.

Oz-Cubed – the CIE’s inhouse model of G-Cubed. The CIE has disaggregated the Australian and the rest of world economies into 57 sectors which are compatible with the GTAP database. The model has been used for greenhouse gas emission projections and trade policy evaluations. The framework created with the development of this model is ready to be used to incorporate more countries and regions. See the CIE report Measuring the Possible Impacts of MAFTA.

Norfolk Island – a recursive dynamic general equilibrium model of the Norfolk Island economy developed by the CIE, and applied to assessing the economic impacts of the adoption of Australian economic policies and regulations.

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