Jump to ContentJump to Main Navigation
Double DividendEnvironmental Taxes and Fiscal Reform in the United States$
Users without a subscription are not able to see the full content.

Dale W. Jorgenson, Richard J. Goettle, Mun S. Ho, and Peter J. Wilcoxen

Print publication date: 2014

Print ISBN-13: 9780262027090

Published to MIT Press Scholarship Online: September 2014

DOI: 10.7551/mitpress/9780262027090.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2017. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use (for details see http://www.mitpress.universitypressscholarship.com/page/privacy-policy).date: 20 October 2017

Model Solution

Model Solution

Chapter:
(p.229) 6 Model Solution
Source:
Double Dividend
Author(s):

Dale W. Jorgenson

Richard J. Goettle

Mun S. Ho

Peter J. Wilcoxen

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262027090.003.0006

This chapter describes the construction and simulation of the IGEM base case, illustrating how the various components of the model combine to achieve the economy's growth path. Key projections for variables external (exogenous) to IGEM are developed for: (i) population, time endowment, labor quality and household demographics from Census Bureau projections; (ii) government deficits, expenditures and tax rates from CBO 10-year and 75-year projections; (iii) current account deficits from IMF short-term forecasts; (iv) world energy prices from EIA projections. Projections of productivity-related variables and trends are derived from IGEM's underlying econometrics. Also described is the procedure by which IGEM's productivity terms are used to target energy consumption patterns and real GDP for those applications requiring calibrated base cases and cross-model comparisons. Base case (endogenous) results are reported at both the macroeconomic and industry levels of detail and for both uncalibrated and calibrated simulations.

Keywords:   model solutions, population-related projections, fiscal policy projections, trade policy projections, world price projections, productivity-related projections, macroeconomic performance, industry performance, model calibration

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.