PREFACE  pp. xi-xii


By John Piggott and John Whalley

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This manuscript was originally prepared in camera ready copy in 1981, at which point the original publisher withdrew due to concerns over the small market for such a specialized research monograph. Since this date there have been many developments both within the field of applied general equilibrium analysis, and in UK tax policies.

Recent developments in applied general equilibrium are reflected in two conference volumes [Scarf and Shoven (1983) and Piggott and Whalley (forthcoming)]. A recent survey paper by Shoven and Whalley (1984) provides an up to date summary. On the tax front, developments in the UK have continued with the usual round of budget and other changes.

We decided not to revise our manuscript to reflect all of these developments. Not only does this involve a large volume of work, but we were concerned not to interrupt the flow of the present draft with a series of inserts. Even without any revisions we believe that our book makes a significant contribution to the applied general equilibrium literature by focussing applied modelling heavily towards results, and their ultimate policy applicability. While some of the model structure has been extended in subsequent work (particulary in dynamic sequenced models used to analyze taxation and savings issues), there are features of our model which are still not present in other modelling efforts. Among these are the incorporation of public goods as a model variant, and household detail on the demand side.