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The documents attached provide an overview of CGE modelling, how the model is used for policy analysis and gives details on the functional forms and equations used in the model. A peer review of HMRC’s CGE model and response to the peer review which addresses the issues raised under short-term modifications and mid-term extensions.
HMRC commissioned PwC to construct a UK Multi-Regional Computable General Equilibrium (MR-CGE) model. The model extends the current HMRC Tax CGE model and therefore improves the analytical capabilities of HMRC. HMRC will be able to use the new model to capture the inter-regional economic interactions among England, Northern Ireland, Scotland and Wales.
This document sets out the documentation of the MR-CGE model describing how it has been constructed, the data used and highlighting the differences with a single country CGE model.