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GTAP Resource #5076

"Are we there yet? Adjustment paths in response to Tariff shocks: a CGE Analysis."
by Wiskich, Tony and Cedric Hodges


Abstract
This paper takes the mini USAGE model developed by Dixon and Rimmer (2005) and modifies it in order to better mimic the expected adjustment path following a tariff reduction. Results from the adjusted model are compared against the standard model. It is found that while the standard model does a good job of capturing the expected long-run behaviour of the economy in response to this shock, the adjustment path is not appropriate. However, with a few relatively straight forward changes, the standard model can produce both satisfactory long-run outcomes and a more plausible adjustment path. These changes are documented in an appendix and are considered applicable to a wide range of models currently in use.


Resource Details (Export Citation) GTAP Keywords
Category: 2016 Conference Paper
Status: Published
By/In: Presented at the 19th Annual Conference on Global Economic Analysis, Washington DC, USA
Date: 2016
Version: 1
Created: Hodges, C. (4/15/2016)
Updated: Hodges, C. (4/15/2016)
Visits: 1,711
- Dynamic modeling
- Trade and the environment
- Labor market issues


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  File format GTAP Resource 5076  (637.5 KB)   Replicated: 0 time(s)


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