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Breaking the single-household assumption in the GTAP framework: An application for the United States

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Abstract

The objective of this paper is to incorporate more detailed information on labor occupations and household groups for the U.S. economy in the GTAP framework, to allow for greater analysis of the impact of policies at the household level. The GTAP Data Base represents the world economy in equilibrium which is closely linked to the GTAP model. The Standard GTAP model is a multi-regional, global trade applied general equilibrium model with a single household for every region of the GTAP Data Base. In this paper, we modify the U.S. data in the GTAP Data Base to include multiple households. The new Data Base will be used with a modified model that explicitly considers multiple households. All other regions/countries in the Data Base are not modified. In this paper we investigate the economic effects of the potential Trans-Pacific Partnership (TPP), a trade agreement between the US, Australia, Brunei Darussalam1 , Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The new model will allow us to analyse the effect of this policy at the household level for the US.

Suggested Citation

  • Aguiar, Angel, 2013. "Breaking the single-household assumption in the GTAP framework: An application for the United States," Conference papers 330257, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:330257
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    File URL: https://ageconsearch.umn.edu/record/330257/files/6408_Aguiar.pdf
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