Computable general equilibrium (CGE) models are a class of economic models that use actual economic data to estimate how an economy might react to changes in policy, technology or other external factors. CGE models are also referred to as AGE (applied general equilibrium) models.
Read more about Computable General Equilibrium: Overview, Comparative-static and Dynamic CGE Models, Solution Techniques
Famous quotes containing the words general and/or equilibrium:
“Every gazette brings accounts of the untutored freaks of the wind,—shipwrecks and hurricanes which the mariner and planter accept as special or general providences; but they touch our consciences, they remind us of our sins. Another deluge would disgrace mankind.”
—Henry David Thoreau (1817–1862)
“They who feel cannot keep their minds in the equilibrium of a pair of scales: fear and hope have no equiponderant weights.”
—Horace Walpole (1717–1797)