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GTAP Resources: Resource Display

GTAP Resource #414

"GTAP Model Version 4.0"
by Hertel, Thomas

Some features available in GEMPACK 6.0 were introduced in GTAP model Version 4.0 (July 1998). It allows for region-specific psave(r) to capture regional differences in the price of savings. Other changes introduced include: GE 0 restrictions on all data flows; volume initialization on flows at market prices; market price and price index initialization at 1.0; value of world output at user prices; real rate of return to factors; and regional and global primary factor price indices.

Changes From v.2.2a/GTAP94 to v.4.0

  1. Region specific "psave(r)"

    The region specific savings price was introduced and is equal to the price of regional investment plus a region-generic adjustment factor, which accounts for the fact that regions also invest abroad.

  2. Factor prices, "pfactor(r)" (also "pfactreal(i,r)" and "pfactwld")

    The global primary factor price index, pfactwld, is new numeraire. Therefore regional primary factor price indices, pfactor(r), now show directly which regions experienced real appreciation / deprecation in the wake of the simulation. The real rate of return to factors, pfactreal(i,r), was introduced to facilitate fixed real wage closure.

  3. Eliminate dummy variables

    The dummy variables used in v.2.2a to eliminate spurious percent changes in variables with zero flows were removed from v.4.0. GTAP model since this was found to have adverse computational consequences.

Resource Details (Export Citation) GTAP Keywords
Category: Model file (.TAB)
Status: Not published
By/In: Center for Global Trade Analysis
Date: 1999
Version: 4.0
Created: Bacou, M. (10/27/2000)
Updated: Bacou, M. (6/18/2001)
Visits: 6,268
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