February 18, 2005 | Volume 33, Number 19

Yale Book[s] in Brief

Frontiers in Applied General Equilibrium Modeling
Edited by T. N. Srinivasan, the Samuel C. Park Jr. Professor of Economics and chair of South Asian Studies at the Yale Center for International and Area Studies; Timothy J. Kehoe; and John Whalley (Cambridge University Press)

This volume brings together 12 papers by many of the leading applied general equilibrium modelers, honoring Herbert E. Scarf, the "father of equilibrium computation in economics," Sterling Professor of Economics and professor at the School of Management. The contributors discuss traditional subjects in the field as well as new developments, covering such topics as non-convexities in economy-wide models, tax policy, developmental modeling and energy modeling. The book also covers a range of new approaches, conceptual issues and computational algorithms, such as calibration, and new areas of applications such as macroeconomics of real business cycles and finance. An introductory chapter written by the editors maps out issues and scenarios for the future evolution of applied general equilibrium.