Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework
Thomas Hertel ()
Chapter Chapter 12 in Handbook of Computable General Equilibrium Modeling, 2013, vol. 1, pp 815-876 from Elsevier
This chapter provides an overview of the first two decades of the Global Trade Analysis Project (GTAP) – an effort to support a standardized database and computable general equilibrium (CGE) modeling platform for international economic analysis. It characterizes GTAP in four different dimensions: institutional innovation, a network, a database and a standardized modeling platform. Guiding principles for the GTAP modeling framework include flexibility, ease of use, transparency, and symmetric treatment of production and utility fundamentals across regions. The chapter reviews core modeling assumptions relating to the regional household, private consumption behavior, welfare decomposition, the “Global Bank,” treatment of the international trade and transport sector, and imports. Model validation and sensitivity analysis, as well as software issues receive attention as well. The chapter also offers brief overviews of the two major areas of application: international economic integration and global environmental issues. It closes a discussion of future directions for the Project.
Keywords: CGE modeling, GTAP, global economic analysis; international trade policy, climate policy, global database, Center for Global Trade Analysis, institutional innovation (search for similar items in EconPapers)
JEL-codes: C82 D58 F11 F12 F21 F22 Q17 Q31 Q41 (search for similar items in EconPapers)
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