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Armington Parameter Estimation for a Computable General Equilibrium Model: A Database Consistent Approach

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  • Xiao-guang Zhang

    (Australian Productivity Commission)

  • George Verikios

    ()
    (Department of Economics, The University of Western Australia)

Abstract

Substitution elasticities in policy-oriented computable general equilibrium (CGE) models are key parameters for model results since they determine behaviour in these models. As Dawkins et al. (2001) observe, the current situation with regard to the elasticities available for use in these models is poor. We focus on an important type of elasticity that is widely used in CGE models with international trade: the so-called ‘Armington’ elasticities (Armington, 1969). These elasticities are well known for their critical role in determining model results. We present an alternative approach to quantifying Armington elasticities which is consistent across historical databases. The approach is used to derive elasticities from successive databases of a commonly-used global CGE model, the GTAP model.

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File URL: http://www.biz.uwa.edu.au/home/research/discussionworking_papers/economics?f=147013
File Function: First version, 2006
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Bibliographic Info

Paper provided by The University of Western Australia, Department of Economics in its series Economics Discussion / Working Papers with number 06-10.

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Length: 36 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:uwa:wpaper:06-10

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Keywords: Armington assumption; computable general equilibrium models; estimating Armington paprmeters;

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  1. Arndt, Channing & Robinson, Sherman & Tarp, Finn, 1999. "Parameter estimation for a computable general equilibrium model: a maximum entropy approach," TMD discussion papers 40, International Food Policy Research Institute (IFPRI).
  2. McKitrick, Ross R., 1998. "The econometric critique of computable general equilibrium modeling: the role of functional forms," Economic Modelling, Elsevier, vol. 15(4), pages 543-573, October.
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