The model utilises all the most current findings in the field of general equilibrium modelling and the newest methods in the field of mathematical economics, e.g. constructing the general equilibrium as a mixed complementarity problem (MCP), use of calibrated share form, and solving the model by an advanced MCP solver in the framework of the general algebraic modelling system (GAMS).
F.23 Development of new system-wide, normative and programme solutions, and methods
COBISS.SI-ID: 1531278In the paper we model education and human capital as major endogenous growth elements in a small open economy general equilibrium framework and consider several policy scenarios for Slovenia. Decrease of the PIT rate and increase of government spending on education turned out to be the most effective policy measures. It is important, though, to understand the underlying transitory dynamic.
F.02 Acquisition of new scientific knowledge
COBISS.SI-ID: 248036352