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GTAP Resource #133

"An Inquiry on General Equilibrium Effects of MERCOSUR -- An Intertemporal World Model"
by Diao, Xinshen and Agapi Somwaru

A multi-region dynamic computable general equilibrium model is constructed to analyze effects of the Southern Common Market (MERCOSUR) on the member countries as well as third party non-member countries. The model is based on intertemporal optimization behaviors of consumers and firms with eight endogenously specified regions. By taking into account dynamic general equilibrium adjustments, we observe significant shifts of trade diversion away from the non-member trading partners to the member countries. We also find that, following the MERCOSUR=s common external tariffication, growth of intra trade would likely be accompanied by increases in trade between MERCOSUR and other countries. In this case, not only MERCOSUR member countries gain more, but also the non-member countries are better off in terms of their production, consumption and consumer welfare.

Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Published
By/In: Journal of Policy Modeling
Date: 2000
Version: 22(5)
Created: Bacou, M. (9/27/2000)
Updated: Batta, G. (8/28/2007)
Visits: 2,919
- Preferential trading arrangements
- Calibration and parameter estimation
- South America

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