Governments Can Now Simulate Economic, Energy, and Environmental Impacts of Policies
This article discusses how Computable General Equilibrium (CGE) models are commonly used in studying resource and environmental issues by simulating policy changes. These models integrate economic, energy, and environmental factors to understand the impact of new policies. The paper examines various applications of CGE models in analyzing global and local economies, energy use, and environmental policies. It outlines the strengths and applicable situations of different models over time. The aim is to offer a broad overview of how these models help in resource and environmental economics research.