This 2005 volume brings together twelve papers by many of the most prominent applied general equilibrium modelers honoring Herbert Scarf, the father of equilibrium computation in economics. It deals with developments in applied general equilibrium, a field which has broadened greatly since the 1980s. The contributors discuss some traditional as well as some modern topics in the field, including non-convexities in economy-wide models, tax policy, developmental modeling and energy modeling. The book also covers a range of distinct approaches, conceptual issues and computational algorithms, such as calibration and areas of application such as macroeconomics of real business cycles and finance. An introductory chapter written by the editors maps out issues and scenarios for the future evolution of applied general equilibrium.

Review of the hardback:'The list of contributors to this book is impressive (including the two Nobel prize winners Arrow and Heckman) and the range of topics is broad … The title of the book covers its content very well: the book is clearly aimed at readers interested in the frontiers of applied research in the field of general equilibrium models.'

Source: De Economist