Validating CGE Models employing an Historical approach

Michiel Van Dijk, Geert Woltjer and George Philippidis

No 332533, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: With the widespread usage of multi-region multi-sector CGE models in various areas of policy analysis, there is an increasing need to provide a validation of the commonly employed baseline scenario. So far, there have only been a few attempts to validate CGE model outcomes in a systematic way. This study is a first attempt to validate a multi-country, multi-sector CGE model. The paper broadly follows the ‘historical’ approach to validate the MAGNET – the GTAP based model of LEI-Wageningen University. The GTAP 6 database with base year 2001 is used to construct projections for the period 2001-2007, which are subsequently compared with historical time-series for output, value added and labour for a large number of countries and detailed sectors. Finally, regression analysis is applied to investigate if forecast performance structurally differs across sectors and countries. This information can be used as a guidance to improve modelling.

Keywords: Research Methods/Statistical Methods; Agricultural and Food Policy (search for similar items in EconPapers)
Pages: 28
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/332533/files/7155.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:332533

Access Statistics for this paper

More papers in Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().