Assessing the Economic Impact of Tourism A Computable General Equili
This book employs a computable general equilibrium (CGE) model – a widely used economic model which uses actual data to provide economic analysis and policy assessment – and applies it to economic data on Singapore’s tourism industry. The authors set out
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Samuel Meng and Mahinda Siriwardana
Assessing the Economic Impact of Tourism
Samuel Meng • Mahinda Siriwardana
Assessing the Economic Impact of Tourism A Computable General Equilibrium Modelling Approach
Samuel Meng University of New England Armidale, New South Wales Australia
Mahinda Siriwardana University of New England Armidale, New South Wales Australia
ISBN 978-3-319-40327-4 ISBN 978-3-319-40328-1 (eBook) DOI 10.1007/978-3-319-40328-1 Library of Congress Control Number: 2016956078 © The Editor(s) (if applicable) and The Author(s) 2017 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Cover illustration: © Infografx / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Contents
1
An Introduction to CGE Modelling 1.1 What Is a CGE Model? 1.2 A Brief Historical Review of CGE Modelling 1.2.1 Walras’ Law: The Theoretical Foundation for CGE Modelling 1.2.2 Input–Output Analysis: The Predecessor of CGE Modelling 1.2.3 Advent of CGE Modelling 1.3 Elements of a Standard CGE Model 1.3.1 Elements in CGE Model Structure 1.3.2 Elements in CGE Database 1.4 Types of CGE Models 1.4.1 Static Versus Dynamic CGE Models 1.4.2 Single-Country Versus Global CGE Models 1.4.3 Single-Region Versus Multi-Regional CGE Models 1.4.4 Top-Down Versus Bottom-Up CGE Models 1.4.5 Multi-Household and/or Multi-Occupation CGE Models 1.4.6 CGE Models by Research Area
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Contents
1.5 1.6
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Acceptance of CGE Modelling An Evaluation of CGE Modelling 1.6.1 Advantages of a CGE Model Over Other Simulation Models 1.6.2 Drawbacks of CGE Modelling References
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Useful CGE Modelling Packages 2.1 GEMPACK Versus GAMS 2.1.1 Advantages of a Linear Model 2.1.2 Percentage Change Linearization Approach 2.1.3 Multi-Step Process to Minimizing the Lin
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