By Peter B. Dixon, Mark Horridge, David T. Johnson (auth.), Professor Dr. John Piggott, Professor Dr. John Whalley (eds.)
Over the final twenty years, utilized basic equilibrium (AGE) modelling has built from a small educational learn software right into a mostly used coverage evaluate software. significant governments and overseas firms continue AGE learn teams, and phone for his or her enter to a number of alternate, tax, and different source allocation matters. This ebook is a set of papers consultant of contemporary task during this box. Contributions were grouped right into a methodological part, a exchange part, and a bit on strength concerns, and this department properly exhibits the focal point of the quantity. Readers will therefore have entry to modern thoughts and effects at the moment getting used by way of researchers on the vanguard of the study program.
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Extra resources for Applied General Equilibrium
S. (1977) 13 The import price elasticities for the NIC and LDC blocs are given a higher relative importance partially because their estimated values vary widely. 14 This requires approximately two hours of CPU time on a VAX 8600 computer. M. Wigle The results of the partial USSA are presented in panel (b) of Table 3. S. welfare. The PS interpolation technique was then applied to approximate the USSA results reported in Table 3 (b). Since the calculations are extremely simple, the CPU time required to make the calculations is extremely small compared to those required for explicitly solving the model.
I5 Briefly, the current model uses lower values for the trade elasticities, and more conservative values for the pricing variables. Both of these lead to reduced welfare gains to Canada from trade liberalization. This policy change leads to significant welfare losses for both the Other Developed bloc, and the world as a whole, as significant trade diversion occurs. As before, a CSSA was performed, and these results were used to evaluate the relative impact of: 1. 2. S. capital mobility 15 See Wigle (1989), Nguyen and Wigle (1989).
Unfortunately, the preferred methodology for sensitivity analysis, Unconditional Systematic Sensitivity Analysis (US SA) is not commonly used, and further has rarely been applied to non-linearised models 3 due to the substantial computer resources required for calculations. 4 This is true in spite of the fact that the more common procedure (Conditional Systematic Sensitivity Analysis) has been ! The author would like to thank, without implicating, John Whalley, Glenn Harrison, Jean Waelbroeck, Peter Dixon, and Rich Jones for helpful comments.