Lofgren, HansGo, Delfin S.Mendez Ramos, FabianRobinson, Sherman2015-02-032015-02-032015-01https://hdl.handle.net/10986/21391This paper uses a three-step Bayesian cross-entropy estimation approach in an environment of noisy and scarce data to estimate behavioral parameters for a computable general equilibrium model. The estimation also measures how labor-augmenting productivity and other structural parameters in the model may have shifted over time to contribute to the generation of historically observed changes in the economic arrangement. In this approach, the parameters in a computable general equilibrium model are treated as fixed but unobserved, represented as prior mean values with prior error mass functions. Estimation of the parameters involves using an information-theoretic Bayesian approach to exploit additional information in the form of new data from a series of social accounting matrices, which are assumed were measured with error. The estimation procedure is "efficient" in the sense that it uses all available information and makes no assumptions about unavailable information. As illustration, the methodology is applied to estimate the parameters of a computable general equilibrium model using alternative data sets for the Republic of Korea and Sub-Saharan Africa.en-USCC BY 3.0 IGOADVANCED COUNTRIESAGRICULTUREARRANGEMENTBASE YEARCAPITAL-LABOR RATIOCOAUTHORSCOMMODITIESCOMPETITIVENESSCONSTANT ELASTICITYCONSTANT PRICESCONSTANT RETURNSCONSTANT RETURNS TO SCALECURRENCYDATA ELEMENTSDATA SETDATA SETSDESCRIPTIONDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPMENT ECONOMICSDEVELOPMENT POLICYDISTRIBUTION PARAMETERDOMAINDYNAMIC BEHAVIORECONOMETRICSECONOMIC EFFICIENCYECONOMIC POLICYECONOMIC REVIEWECONOMIC STRUCTUREECONOMIC STRUCTURESECONOMIC SYSTEMSECONOMIC THEORYECONOMIC TRANSFORMATIONELASTICITYELASTICITY OF SUBSTITUTIONEMPIRICAL ESTIMATIONENDOGENOUS VARIABLESEQUATIONSEQUILIBRIUMEQUILIBRIUM DYNAMICSEQUILIBRIUM THEORYEXOGENOUS VARIABLESEXPECTED VALUEEXPECTED VALUESEXPORTSEXTERNAL SHOCKSFACTOR COMPONENTSFEDERAL RESERVEFEDERAL RESERVE BANKFOREIGN TRADEFUNCTIONAL FORMFUTURE RESEARCHGDPGDP DEFLATORGENERAL EQUILIBRIUM MODELGLOBALIZATIONGROWTH EPISODESGROWTH RATEGROWTH RATESHISTORICAL DATAINCOMESINDEXESINDICESINDUSTRIALIZATIONINEQUALITYINFORMATION PROCESSINGINFORMATION TECHNOLOGYINNOVATIONMACROECONOMIC ANALYSISMACROECONOMICSMANUFACTURINGMANUSCRIPTMEAN VALUEMEASUREMENT ERRORMODEL ESTIMATIONNATIONAL INCOMENATIONAL OUTPUTNORMAL DISTRIBUTIONNOTATIONNOTATIONSOBSERVED CHANGESOPEN ACCESSOPEN ECONOMYOPTIMIZATIONOUTPUTSPOLICY DISCUSSIONSPOLICY FORMULATIONPOLICY RESEARCHPRICE CHANGESPRICE SERIESPROBABILITIESPROBABILITYPRODUCT DIFFERENTIATIONPRODUCTION FUNCTIONSPRODUCTION STRUCTUREPRODUCTIVITYPRODUCTIVITY GROWTHPROTOTYPEREGIONAL ACCOUNTSREGIONAL LEVELRELATIVE PRICESRELIABILITYRESULTRESULTSSAVINGSSERIES DATASMALL ECONOMIESSTATISTICAL ANALYSISSTRUCTURAL CHANGETARGETSTAXTAX RATESTECHNOLOGICAL CHANGETOTAL FACTOR PRODUCTIVITYTRADE STRUCTURETRANSACTIONUSESVALUE ADDEDVALUE ADDED SERVICESWEBWORLD DEVELOPMENT INDICATORS10.1596/1813-9450-7174