How prescribed policy can mislead when data are defective: a follow-up to Srinivasan (1994) using general equilibrium
AbstractWe 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.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 207.
Date of creation: 1996
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Other versions of this item:
- Mercenier, J. & Yeldan, E., 1996. "How Prescribed Policy Can Mislead when Data Are Defective: A Follow-Up to Srinivasan (1994) Using General Equilibrium," Cahiers de recherche 9606, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Mercenier, J. & Yeldan, E., 1996. "How Prescribed Policy Can Mislead when Data Are Defective: a Follow-Up to Srinivasan (1994) Using General Equilibrium," Cahiers de recherche 9606, Universite de Montreal, Departement de sciences economiques.
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
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- Mercenier, Jean & Yeldan, A. Erinc, 1996. "On Turkey's European Trade Policy: How Desirable is a Status Quo," 1996: Implications of the New Growth Theory to Agricultural Trade Research and Trade Policy Conference, December 1996, Washington DC 50865, International Agricultural Trade Research Consortium.
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