How prescribed policy can mislead when data are defective: a follow-up to Srinivasan (1994) using general equilibrium

Jean Mercenier () and Erinc Yeldan

No 207, Staff Report from Federal Reserve Bank of Minneapolis

Abstract: We highlight an example of considerable bias in officially published input-output data (factor-income shares) by an LDC (Turkey), which many researchers use without question. We make use of an intertemporal general equilibrium model of trade and production to evaluate the dynamic gains for Turkey from currently debated trade policy options and compare the predictions using conservatively adjusted, rather than official, data on factor shares. We show that the predicted welfare gains are not only of a different order of magnitude, but in some cases, of a different sign, hence, suggesting contradictory policy recommendations.

Keywords: Economic; policy (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (3)

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Related works:
Working Paper: How Prescribed Policy Can Mislead when Data Are Defective: a Follow-Up to Srinivasan (1994) Using General Equilibrium (1996)
Working Paper: How Prescribed Policy Can Mislead when Data Are Defective: A Follow-Up to Srinivasan (1994) Using General Equilibrium (1996)
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