Joplin Computable General Equilibrium (CGE)#

Description

A computable general equilibrium (CGE) model is based on fundamental economic principles. A CGE model uses multiple data sources to reflect the interactions of households, firms, and relevant government entities as they contribute to economic activity. The model is based on (1) utility-maximizing households that supply labor and capital, using the proceeds to pay for goods and services (both locally produced and imported) and taxes; (2) the production sector, with perfectly competitive, profit-maximizing firms using intermediate inputs, capital, land, and labor to produce goods and services for both domestic consumption and export; (3) the government sector that collects taxes and uses tax revenues in order to finance the provision of public services; and (4) the rest of the world.

The output of this analysis are CSV files with domestic supply, gross income, ore- and post-disaster factor demand and household count.

Input parameters

key name

type

name

description

model_iterations *

int

Iterations

Number of dynamic model iterations.

solver_path

str

Solver path

Path to ipopt package.

Input datasets

key name

type

name

description

SAM *

incore:joplinCGEsam

Social matrix

A social accounting matrix.

BB *

incore:JoplinCGEbb

Capital composition

A matrix of functioning capital.

IOUT *

incore:JoplinCGEiout

Government parameters

A matrix tax revenue transfer.

MISC *

incore:joplinCGEmisc

Parameters

Data of employment, capital and households
in the economy.

MISCH *

incore:joplinCGEmisch

Supply elasticity

Elasticities for the supply of labor.

LANDCAP *

incore:JoplinCGElandcap

Land capital

Changes in the price of physical capital.

EMPLOY *

incore:JoplinCGEemploy

Employment

Commercial sector employment data

IGTD *

incore:JoplinCGEigtd

Exogenous payment

A matrix of exogenous transfer payment.

TAUFF *

incore:joplinCGEtauff

Tax rates

Social security tax rates.

JOBCR *

incore:JoplinCGEjobcr

Labor

A matrix of workers groups in the economy.

OUTCR *

incore:JoplinCGEoutcr

Commuter laborers

A matrix of Joplin commuting workers.

sector_shocks *

incore:capitalShocks

Capital shocks

Building states to capital
shocks per sector.

Output datasets

key name

type

name

description

domestic-supply *

incore:Employment

Supply results

A dataset containing domestic supply results (format: CSV).

gross-income *

incore:Employment

Gross income

A dataset of resulting gross income (format: CSV).

pre-disaster-factor-demand *

incore:FactorDemand

Factor demand

A dataset of factor demand before disaster (format: CSV).

post-disaster-factor-demand *

incore:FactorDemand

Factor demand

A dataset of factor demand after disaster (format: CSV).

household-count *

incore:HouseholdCount

Household count

A dataset of household count (format: CSV).

(* required)

Execution

code snippet:

    # Create Joplin CGE Model
    joplin_cge = JoplinCGEModel(client)

    # Set analysis input datasets
    joplin_cge.load_remote_input_dataset("SAM", SAM)
    joplin_cge.load_remote_input_dataset("BB", BB)
    joplin_cge.load_remote_input_dataset("IOUT", IOUT)
    joplin_cge.load_remote_input_dataset("MISC", MISC)
    joplin_cge.load_remote_input_dataset("MISCH", MISCH)
    joplin_cge.load_remote_input_dataset("LANDCAP", LANDCAP)
    joplin_cge.load_remote_input_dataset("EMPLOY", EMPLOY)
    joplin_cge.load_remote_input_dataset("IGTD", IGTD)
    joplin_cge.load_remote_input_dataset("TAUFF", TAUFF)
    joplin_cge.load_remote_input_dataset("JOBCR", JOBCR)
    joplin_cge.load_remote_input_dataset("OUTCR", OUTCR)
    joplin_cge.load_remote_input_dataset("sector_shocks", sector_shocks)

    # Set analysis parameters
    joplin_cge.set_parameter("solver_path", "ipopt")
    joplin_cge.set_parameter("model_iterations", 1)

    # Run Joplin CGE model analysis
    joplin_cge.run_analysis()

full analysis: joplin_cge.ipynb