The first book-length treatment of the development and application of an applied general equilibrium model of the Walrasian type.

Introduction and summary of study; Part I. The General Equilibrium Model of the UK - Structure, Data and Model Solution: 1. General Equilibrium Analysis of Tax and Subsidy Policies; 2. The Basic Variant General Equilibrium Model; 3. Model Treatment of UK Taxes, Subsides and Government Expenditure; 4. Calibrating the model; 5. Benchmark Equilibrium Data Set; 6. Specifying Values for Substitution Elasticities; Part II. Empirical Analysis of the UK Tax/Subsidy System Using the General Equilibrium Model: 7. Detailed Analysis of Central Case Model Experiment Involving Removal of Non-savings/Non-leisure Tax/Subsidy Distortion; 8. Analysis of Structural Characteristics of the Tax/Subsidy System; 9. Further Analysis of Tax/Subsidy; Summary and Conclusions; Appendices; Bibliography.