A Comparison of the Performance of Flexible Functional Forms for Use in Applied General Equilibrium Modelling

被引：25

作者：

Perroni C. ^{[1
]}

Rutherford T.F. ^{[2
]}

机构：

[1] University of Warwick

[2] University of Colorado, Boulder

来源：

Computational Economics | 1998年 / 11卷 / 3期

基金：

英国经济与社会研究理事会;

关键词：

Applied general equilibrium; Flexible functional forms;

D O I：

10.1023/A:1008641723127

中图分类号：

学科分类号：

摘要：

This paper describes a procedure for testing the global properties of functional forms which recognizes their specific role in economic equilibrium modelling. This procedure is employed to investigate the global regularity and third-order curvature properties of three widely used flexible functional forms, the Translog, the Generalized Leontieff and the Normalized Quadratic functional forms. We contrast the properties of these functions with a globally regular flexible form, the Nonseparable Nested Constant-Elasticity-of-Substitution functional form. Our results indicate that inherently regular representations are best suited for equilibrium analysis.

引用

页码：245 / 263

页数：18

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