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Comments on the Harrison-Rutherford-Tarr CGE Model with Imperfect Competition and Increasing Returns to Scale

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  • Roberto A. DeSantis

Abstract

Harrison, Rutherford and Tarr (1997) use a multiregional Computable General Equilibrium (CGE) model with a CES multistage demand system, imperfect competition, increasing returns to scale (IRS), and two endogenous price elasticities of demand perceived by a firm in each national market, in order to quantify the reforms of the Uruguay Round, when firms compete in a quantity setting oligopoly with constant conjectures. This paper argues that the derivation of the price markups is based on two incorrect assumptions, which might affect their empirical results, especially on output and welfare.

Suggested Citation

  • Roberto A. DeSantis, 1999. "Comments on the Harrison-Rutherford-Tarr CGE Model with Imperfect Competition and Increasing Returns to Scale," Kiel Working Papers 907, Kiel Institute for the World Economy.
  • Handle: RePEc:kie:kieliw:907
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    Keywords

    Price markup and CGE analysis.;

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

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