GTAP Resources: Resource Display
| GTAP Resource #4976 |
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"Labor Specification and Systematic Calibration Biases in Trade Policy Analyses" by McDonald, Scott, Karen Thierfelder and Terrie Walmsley Abstract This study demonstrates that there are systematic theoretical and empirical biases in results from analyses of economic policies using general equilibrium models. The biases are a consequence of the methods used to calibrate the standard (activity specific) production functions; theory allows inferences to be drawn on the directions of biases by reference to the direction of labor reallocations among sectors. Empirically, the magnitudes of the biases are uncertain, although it is possible to determine the upper and lower bounds associated with any experiment. |
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- Calibration and parameter estimation - Labor market issues |
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Public Access  GTAP Resource 4976 (99.9 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
