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Impacts of Trade Reform: Sensitivity of Model Results to Key Assumptions

Author

Listed:
  • Ernesto Valenzuela

    (School of Economics, University of Adelaide)

  • Kym Anderson

    (School of Economics, University of Adelaide)

  • Thomas Hertel

    (Department of Agricultural Economics, Purdue University)

Abstract

The WTOÂ’s Doha Development Agenda has generated demand for estimates of the potential economic consequences of global trade reform. Recent improvements in the GTAP dataset have provided a much better representation of tariff restrictions as of 2001. However, despite its use by most global trade modelers, substantial differences in results emerge from different computable general equilibrium exercises. To help understand these differences, this paper examines the sensitivity of full global and regional trade liberalization results from the GTAP model, using the GTAP version 6.1 database, to different assumptions about factor mobility, fiscal neutrality, macro-economic closure, and trade (Armington) elasticities.

Suggested Citation

  • Ernesto Valenzuela & Kym Anderson & Thomas Hertel, 2007. "Impacts of Trade Reform: Sensitivity of Model Results to Key Assumptions," Centre for International Economic Studies Working Papers 2007-09, University of Adelaide, Centre for International Economic Studies.
    • Handle: RePEc:adl:cieswp:2007-09
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    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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