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Estimates of Armington parameters for a landlocked economy

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  • Nganou, Jean-Pascal

Abstract

One of the most debated issues in the Computable General Equilibrium (CGE) literature concerns the validity of the key behavioral parameters used in the calibration process. CGE modelers seldom estimate those parameters, preferring to borrow from the handful of estimates available in the literature. The lack of data is often cited as a reason for this type of modus operandi (technique). Estimating key parameters is very crucial since CGE results are quite sensitive to parameter specification. This paper proposes a new and robust econometric technique, the Generalized Maximum Entropy (GME), to estimate Armington elasticities for selected commodities. All the parameters estimated are intended for use in a Lesotho CGE model.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 31459.

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Date of creation: 09 Aug 2005
Date of revision: 10 Aug 2008
Handle: RePEc:pra:mprapa:31459

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Related research

Keywords: CGE; Maximum Entropy (GME); Armington; Africa; Lesotho;

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  1. Mittelhammer,Ron C. & Judge,George G. & Miller,Douglas J., 2000. "Econometric Foundations Pack with CD-ROM," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521623940.
  2. Arndt, Channing & Robinson, Sherman & Tarp, Finn, 2002. "Parameter estimation for a computable general equilibrium model: a maximum entropy approach," Economic Modelling, Elsevier, Elsevier, vol. 19(3), pages 375-398, May.
  3. Clinton R. Shiells & Kenneth A. Reinert, 1993. "Armington Models and Terms-of-Trade Effects: Some Econometric Evidence for North America," Canadian Journal of Economics, Canadian Economics Association, vol. 26(2), pages 299-316, May.
  4. Iain Fraser, 2000. "An application of maximum entropy estimation: the demand for meat in the United Kingdom," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 32(1), pages 45-59.
  5. Golan, Amos & Judge, George G. & Miller, Douglas, 1996. "Maximum Entropy Econometrics," Staff General Research Papers 1488, Iowa State University, Department of Economics.
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