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on Computational Economics |
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Issue of 2011‒12‒05
six papers chosen by |
| By: | Laura Fernández-Durán; Alicia Llorca; Nancy Ruiz; Soledad Valero; Vicente Botti |
| Abstract: | The location of a residential property in a city directly affects its market price. Each location represents different values in variables such as accessibility, neighbourhood, traffic, socio-economic level and proximity to green areas, among others. In addition, that location has an influence on the choice and on the offer price of each residential property. The development of artificial intelligence, allows us to use alternative tools to the traditional methods of econometric modelling. This has led us to conduct a study of the residential property market in the city of Valencia (Spain). In this study, we will attempt to explain the aspects that determine the demand for housing and the behaviour of prices in the urban space. We used an artificial neutral network as a price forecasting tool, since this system shows a considerable improvement in the accuracy of ratings over traditional models. With the help of this system, we attempted to quantify the impact on residential property prices of issues such as accessibility, level of service standards of public utilities, quality of urban planning, environmental surroundings and other locational aspects. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p1595&r=cmp |
| By: | Zeynep Gamze Mert; Serhat Yilmaz; Ertan Mert |
| Abstract: | More recently Turkey has witnessed fast housing development and real estate sector growth because of the mortgage preparations. With this development, property location quality has been considered important for selecting and paying them. This study uses a data set of new single family housing units in Kocaeli University Campus Area. By using 4 location quality criteria, 27 single family housing units are graded at the neighborhood level. It is aimed to examine the applications of grading property at the neighborhood level based on property location quality by testing with three methods. Traditional method and fuzzy logic method were discussed in our antecedent studies. In this study, an easy used numerical calculation method; Neural Networks (NN), is introduced. Its grading performance is compared with the previous methods. NN method is found to be more accurate and realistic than traditional grading approach where its designing stage is more practical and faster than fuzzy logic approach. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p966&r=cmp |
| By: | Yoji Kunimitsu |
| Abstract: | Agricultural public facilities for irrigation and drainage play an important role in Japanese agriculture, especially in paddy production. However, the budget for renovation of old facilities was drastically cut in 2010. For prolonging life time and decreasing lifecycle costs of public facilities, the asset-management measures (AMMs), which reinforce old facilities in stead of reconstruction, have started. This study analyzes effects of the AMMs by the recursive dynamic computable general equilibrium (CGE) model. Simulation results demonstrated that, firstly, the AMMs increased not only agricultural production but also food production via reallocation of production factors and prices. Second, the increase in GDP improved consumption and private investment via an increase in labor income, and decreased the general price of goods and service. Third, consumer price went down and consequently Hicksian Equivalent Variation value, which shows social and economic effects, increased. In this sense, the AMMs bring about positive ripple effects to economies. The dynamic CGE model can also measure such long-term comprehensive effects and is useful for policy analysis. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p1056&r=cmp |
| By: | Jonathan Brooks; Mateusz Filipski; Erik Jonasson; J. Edward Taylor |
| Abstract: | This paper presents the Development Policy Evaluation Model (DEVPEM), a new simulation model which captures four critical aspects of rural economies in developing countries: (1) the role of the household as both a producer and a consumer of food crops; (2) high transaction costs of participating in markets; (3) market linkages among heterogeneous rural producers and consumers; (4) the imperfect convertibility of land from one use to another. The results of simulations for six country models show that no untargeted agricultural policy intervention is pro-poor within the rural economy. While agricultural policy instruments are less efficient at raising rural incomes than direct payments, the degree of inefficiency of some market interventions, notably input subsidies, is not inevitably as high as observed in developed OECD countries. |
| Keywords: | general equilibrium, agricultural policy, welfare, household analysis |
| Date: | 2011–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:oec:agraaa:50-en&r=cmp |
| By: | Jonathan Brooks; Mateusz Filipski; Erik Jonasson; J. Edward Taylor |
| Abstract: | This paper provides technical documentation of the Development Policy Evaluation Model (DEVPEM model). It contains a discussion of the theoretical building blocks of the model; an overview of the data sources used for the simulations; and explanations of how household groups are categorized and how the model is calibrated. Finally it describes the design of the agricultural policy simulations that are examined in the accompanying policy paper. |
| Keywords: | general equilibrium, agricultural policy, welfare, household analysis |
| Date: | 2011–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:oec:agraaa:51-en&r=cmp |
| By: | Carlos Azzoni; Eduardo Haddad |
| Abstract: | An integrated approach projects the economic impacts from climate change and adaptation and mitigation policies, explicitly considering the various territorial scales in Brazil (macro-regions, states, micro-regions, and networks of cities). A computable general equilibrium (GCE) model was used to simulate two climate change-free scenarios regarding the future of Brazil’s economy that are consistent with the global economic development trends under IPCC’s scenarios A2 and B2. Climate shocks, captured by the model through impacts on the agricultural/ livestock and energy sectors, were applied to these scenarios. The socio-economic trends of the scenarios with and without global climate change were reviewed in terms of benefits and costs for Brazil and its regions. The models interact with the agricultural/livestock and energy sector studies through variables such as energy generation and consumption for different sectors and regions, replacement of sources of energy in the production process and consumption by the residential sector, agricultural yields and land use, etc. These, in turn, are dependent on climate variables, future water supply and other economic factors. |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa11p410&r=cmp |