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Data issues in general equilibrium modelling

Author

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  • Beutre, Benjamin
  • Rodriguez, Gil
  • Pant, Hom M.

Abstract

In recent years global general equilibrium (GE) models have been used to analyse policy issues such as trade liberalisation, regional integration and environmental policies. While a global CGE model is an excellent tool to perform a comprehensive analysis of such policies, it requires an enormous amount of data to calibrate or parameterise the model itself. Quality differences in the data sets might affect the results of the model simulation. Identifying and removing problems in the database is an important task for the effective use of a CGE model. In this paper, we suggest an approach to detect and remove major inconsistencies from the database of a CGE model. To illustrate, we examine and modify selected interindustry transactions in the GTAP version 5 database, a general equilibrium database of the global economy. The revised database was evaluated against the original by undertaking technical change and trade liberalisation experiments using Global Trade Analysis Project (GTAP) model. Results show that estimates using the modified database are more credible than those from the original database.

Suggested Citation

  • Beutre, Benjamin & Rodriguez, Gil & Pant, Hom M., 2003. "Data issues in general equilibrium modelling," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57838, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare03:57838
    DOI: 10.22004/ag.econ.57838
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    References listed on IDEAS

    as
    1. Hazledine, Tim, 1992. "A Critique of Computable General Equilibrium Models for Trade Policy Analysis," Working Papers 51131, International Agricultural Trade Research Consortium.
    2. Mercenier, Jean & Yeldan, Erinc, 1999. "A Plea For Greater Attention on the Data in Policy Analysis," Journal of Policy Modeling, Elsevier, vol. 21(7), pages 851-873, December.
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    Cited by:

    1. Banerjee, Onil & Alavalapati, Janaki, 2010. "Illicit exploitation of natural resources: The forest concessions in Brazil," Journal of Policy Modeling, Elsevier, vol. 32(4), pages 488-504, July.
    2. Banerjee, Onil & Alavalapati, Janaki, 2009. "A computable general equilibrium analysis of forest concessions in Brazil," Forest Policy and Economics, Elsevier, vol. 11(4), pages 244-252, July.
    3. Banerjee, Onil & Alavalapati, Janaki R.R. & Lima, Eirivelthon, 2016. "A framework for ex-ante analysis of public investment in forest-based development: An application to the Brazilian Amazon," Forest Policy and Economics, Elsevier, vol. 73(C), pages 204-214.

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