Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework

Hertel, Thomas W.

doi:10.1016/b978-0-444-59568-3.00012-2

Cited by 74 publications

(66 citation statements)

References 86 publications

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“…The latest version of the GTAP model described in Hertel et al (2012) has more than 13,000 structural parameters. Counterfactual analysis in the Eaton and Kortum (2002) model can be conducted using knowledge of only one: the trade elasticity.…”

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confidence: 99%

“…Such computational general equilibrium (CGE) models have long been used to answer a stream of essential counterfactual questions: see, e.g., Hertel (2013) for a survey of the influential Global Trade Analyis Project (GTAP) model. Over the last ten years or so, this tradition has been enhanced by an explosion of quantitative work based on gravity models, triggered in large part by the seminal work of Eaton and Kortum (2002).…”

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confidence: 99%

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Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade

Adão

Costinot

Donaldson

2017

American Economic Review

130

107

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Many interesting questions in international economics are counterfactual ones. Consider China's recent export boom. In the last two decades, its share of world exports has increased from 3 percent in 1995 to 11 percent in 2011. What if it had not? What would have happened to other countries around the world?Given the challenges inherent in isolating quasi-experimental variation in general equilibrium settings, the standard approach to answering such questions has been to proceed in three steps. First, fully specify a parametric model of preferences, technology, and trade costs around the world. Second, estimate the model's supplyand demand-side parameters. And finally, armed with this complete knowledge of

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confidence: 99%

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confidence: 99%

Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade

Adão

Costinot

Donaldson

2017

American Economic Review

130

107

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“…Such Computational General Equilibrium (CGE) models have long been used to answer a stream of essential counterfactual questions; see e.g. Hertel (2013) for a survey of the influential GTAP model. Over the last ten years or so, this tradition has been enhanced by an explosion of quantitative work based on gravity models, triggered in large part by the seminal work of Eaton and Kortum (2002).…”

Section: Introductionmentioning

confidence: 99%

Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade

Adão

Costinot

Donaldson

2015

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We develop a methodology to construct nonparametric counterfactual predictions, free of functional-form restrictions on preferences and technology, in neoclassical models of international trade. First, we establish the equivalence between such models and reduced exchange models in which countries directly exchange factor services. This equivalence implies that, for an arbitrary change in trade costs, counterfactual changes in the factor content of trade, factor prices, and welfare only depend on the shape of a reduced factor demand system. Second, we provide sufficient conditions under which estimates of this system can be recovered nonparametrically. Together, these results offer a strict generalization of the parametric approach used in so-called gravity models. Finally, we use China's recent integration into the world economy to illustrate the feasibility and potential benefits of our approach.

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“…Zwar kann man unter dem repräsentativen Agenten auch einen durchschnittlichen Haushalt verstehen, es bleibt aber die Kritik, dass damit zum Beispiel die Varianz der Einkommensverteilung typischerweise unberücksichtigt 37 GTAP steht für "Global Trade Analysis Project"; vgl. Hertel (2013). 38 Vgl.…”

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Wie vorteilhaft ist internationaler Handel?

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Jung

2017

Perspektiven Der Wirtschaftspolitik

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Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework

Cited by 74 publications

References 86 publications

Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade

Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade

Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade

Wie vorteilhaft ist internationaler Handel?

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