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ESTIMATING THE IMPACTS OF REGIONAL BUSINESS ASSISTANCE PROGRAMS: ALTERNATIVE CLOSURES IN A COMPUTABLE GENERAL EQUILIBRIUM MODEL
Author(s) -
Rickman Dan S.
Publication year - 1992
Publication title -
papers in regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.937
H-Index - 64
eISSN - 1435-5957
pISSN - 1056-8190
DOI - 10.1111/j.1435-5597.1992.tb01857.x
Subject(s) - computable general equilibrium , economics , econometric model , key (lock) , new keynesian economics , econometrics , macroeconomics , computer science , monetary policy , computer security
Multipliers derived from regional Keynesian models are often used to justify regional business assistance programs. Econometric evidence on the efficacy of such programs is inconclusive. A regional, computable, general equilibrium model of key agricultural and energy‐producing states was implemented to study the sensitivity of predicted impacts of regional business assistance programs to alternative model closures. The closures fall into two broad categories: Keynesian and neoclassical. The model also improves upon current methods used to evaluate regional business assistance programs.