Gemodel 3.2 simulates with neo-classical economic models such as those found in price theory, public finance, international trade, and economic development textbooks.
The user enters assumed functional parameters in spreadsheets and selects menu choices to build any one of a large number of alternative model economies. A model economy can have 2 or 3 industrial sectors that employ 2 or 3 primary factors to supply 1 to 19 households. The structure of the basic model can be enriched by addition of optional features. The model economy can have inter-industry transactions, taxes on any number of several tax bases, and household demand for leisure. The model can be closed or open to international trade. Open models can be open or closed to international flows of capital services. The prices of traded goods and services can be endogenized by simulating a two-country model. Up to 9 countries are permitted. Because the model is constructed with menu selections and spreadsheet values there is no need for additional equation-solving software, computer programming, and program compilers. A picture of a model building screen is attached.
Classroom use of Gemodel is enriched by the GEDATA diskette. This diskette has Gemodel 3.2 files for exact reproduction of models that appeared in professional journals and also numerous files that are outputs of simulation exercises discussed in the Gemodel 3.2 user's manual. The exercises show how to explore the curvature of production and utility possibility curves, verify Stolper-Samuelson, Rybczynski and other theorems, evaluate the effects of neutral and distorting taxes, and evaluate the gains from trade and the distribution of the gains from trade among trading countries. Unlike other solvers, this one operates directly on non-linear equations; it does not linearize to go off on a tangent and reach false solutions. Read the manual for in-depth description of GEMODEL 3.2.
Additional software recommended for professional use is Gestats and Gereport.
The Gemodel package has had several peer reviews.
Gemodel 3.2 is available in two versions: a full one for Windows, and a student version.