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GTAP Resource #6007

"Chapter 12.A Primary Factor Shares"
by Hertel, Tom, Marinos Tsigas, Badri Narayanan and Robert McDougall

The incidence of many policy interventions in GTAP hinge critically on the elasticity of commodity supply. For example, if an agricultural subsidy is removed, the burden will be borne by producers in proportion to the ratio of the demand and supply elasticities. If the supply is very inelastic, relative to demand, the burden will largely be borne by suppliers of the commodity. While the demand elasticity in a general equilibrium model is a function of all agents and all regions, the supply side is analytically more tractable and hinges on the potential to substitute away from any fixed, or quasi-fixed factors in the sector (of course, if all factors are perfectly mobile, then the partial equilibrium supply elasticity under constant returns for scale is infinite). Given the presence of quasi-fixed factors in agriculture and natural resources, we focus our discussion on these activities.

Resource Details (Export Citation) GTAP Keywords
Category: GTAP 10 Data Base Documentation
Status: Published
By/In: Center for Global Trade Analysis
Date: 2020
Created: McIntire, H. (4/7/2020)
Updated: McIntire, H. (4/7/2020)
Visits: 2,868
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