Computational General Equilibrium > Demonstration Models


Really a macro model rather than a true CGE model because it has only one sector. However, the Ramsey model is a useful reference case because it is the simplest model having intertemporal optimization with foresight.


Basic information about the particular version of the Ramsey Model contained in the files below.

ramsey-doc.pdf A brief description of the model's theory and equations. 
Phase Diagrams The model's phase diagram in (k,lambda) and (k,C). 

Steady State Ramsey Model in Ox

The files below are an implementation of the Ramsey model in the Ox language and the output for a sample simulation. To use the model you'll also need a copy of newton.ox, an Ox implementation of Newton's Method.

ramsey.ox Ox code for the Ramsey model. 
ramsey.txt Sample output. 

Intertemporal Ramsey Model in Gempack

The links below provide the files needed to implement an intertemporal version of the Ramsey model in Gempack. The only difference between the two versions is where the base case data is stored. The models themselves are identical. The base case data is the steady state solution obtained via Ox program above.

Version 1: Base Case Data in Tablo File
Version 2: Base Case Data in External File

Intertemporal Ramsey Model in Excel

The link below provides a very simple intertemporal version of the Ramsey model in Excel.

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Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 02/06/2006