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.
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收藏
页码：245 / 263
页数：18
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