Study of Equilibrium Prices, Using General Equilibrium Models

Daniela MARINESCU
Mioara BANCESCU
Dumitru MARIN

Keywords

general equilibrium models, equilibrium prices, General Algebraic Modelling Systems – GAMS

Abstract

The first part of the paper presents some theoretical aspects related to general equilibrium models and the motivation of formulating the general equilibrium models as mixed complementary ones. Then we present a general equilibrium application using GAMS software (General Algebraic Modelling Systems). The application is a general equilibrium model for the Romanian energetic system, considered as a component of the national economy.