GTAP Resources: Resource Display
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"Economic Growth and Income Distribution: Linking Macroeconomic Models with Household Survey Data at the Global Level" by De Hoyos, Rafael, Maurizio Bussolo and Denis Medvedev Abstract In an increasingly globalize world, many domestic policies have an impact that goes beyond the country’s own frontiers, similarly, several economic policy proposals have a global nature, e.g. trade liberalization agendas, policies mitigating climate changes, etc. The GIDD is the first global CGE-Microsimulation model and it therefore closes an important gap in the policy evaluation empirical literature. The paper shows a new methodology to evaluate the global welfare effects of global and domestic macroeconomic policies. The GIDD is able to incorporate, in an ex-ante fashion, changes in demographic composition, sectoral re-allocation of labor, shifts in relative wages and overall growth and it thus represents an important step towards a more integrated global Macro-Micro evaluation framework. The paper develops the methodology in detail and then illustrates its usefulness by showing three recent applications if the GIDD: (a) how the global income distribution of income will look like in 2030, (b) how changes in the global growth, income distribution, and global middle class will be determined by China and India, and (c) an evaluation of the global poverty and distributional consequences of eliminating all present agricultural distortions. Although the GIDD represents an important contribution to our understanding of the global welfare effects of macro policies, more research is needed to update the GIDD’s data and expand its modeling capabilities. |
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- Economic development - Economic analysis of poverty |
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Public Access  2008 Conference Paper (130.1 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instructions have been specified. |
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Last Modified: 9/15/2023 2:05:45 PM
