Journal of Global Economic Analysis最新文献

GTAP-Power Data Base: Version 11 GTAP-Power 数据库：第 11 版

IF 2.5

Journal of Global Economic Analysis Pub Date : 2023-12-22 DOI: 10.21642/jgea.080203af

M. Chepeliev

引用次数: 0

Estimation of the value-added/intermediate input substitution elasticities consistent with the GTAP data 估算与 GTAP 数据一致的增值/中间投入替代弹性系数

IF 2.5

Journal of Global Economic Analysis Pub Date : 2023-12-22 DOI: 10.21642/jgea.080204af

M. Ivanic, Jayson Beckman, Noe J. Nava

{"title":"Estimation of the value-added/intermediate input substitution elasticities consistent with the GTAP data","authors":"M. Ivanic, Jayson Beckman, Noe J. Nava","doi":"10.21642/jgea.080204af","DOIUrl":"https://doi.org/10.21642/jgea.080204af","url":null,"abstract":"Elasticities are often a combination of expert decisions and literature estimates— many of which are outdated. Previous efforts have focused on estimating the most commonly used elasticities in economic models (e.g., the Armington elasticity of trade); however, several elasticities still have little empirical basis. The elasticity of substitution between intermediate inputs and value-added is one example, but this elasticity is quite important as it governs producers’ production regimes across sectors and regions reflecting their level of efficiency. We examine and estimate this elasticity for one of the most widely used CGE models (parameter ESUBT in the GTAP model), using the latest five datasets available (2004, 2007, 2011, 2014, and 2017) in the version 11 GTAP database. Our work finds that the default value of zero in GTAP does not reflect the behavior implied by the data. Using our estimates, we propose a set of new values for the short run (about one year), two medium runs (three years and six years) and the long run (i.e., infinite time horizon). We demonstrate the importance of our new estimates using a scenario from the EU Farm to Fork policy where we find that using the estimated elasticities leads to much milder market and welfare impacts, and that these effects are further dampened as the time horizon of the simulation increases.","PeriodicalId":44607,"journal":{"name":"Journal of Global Economic Analysis","volume":"16 5","pages":""},"PeriodicalIF":2.5,"publicationDate":"2023-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138944564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A Ricardian Trade Structure in CGE: Modeling Eaton-Kortum Based Trade with GTAP CGE 中的李嘉图贸易结构：利用 GTAP 建立基于 Eaton-Kortum 的贸易模型

IF 2.5

Journal of Global Economic Analysis Pub Date : 2023-12-22 DOI: 10.21642/jgea.080201af

E. Bekkers, Erwin Corong, Joseph Francois, H. Rojas‐Romagosa

引用次数: 0

Calibrating Constant Elasticityof Substitution Technologies toBottom-up Cost Estimates 校准替代技术的常数弹性以自下而上估计成本

IF 2.5

Journal of Global Economic Analysis Pub Date : 2023-06-09 DOI: 10.21642/jgea.080103af

Edward J. Balistreri, Maxwell Brown

{"title":"Calibrating Constant Elasticityof Substitution Technologies toBottom-up Cost Estimates","authors":"Edward J. Balistreri, Maxwell Brown","doi":"10.21642/jgea.080103af","DOIUrl":"https://doi.org/10.21642/jgea.080103af","url":null,"abstract":"We propose a method for calibrating an industry-level technology to engineering (bottom-up) estimates with a particular focus on abatement opportunities. As a demonstration, substitution elasticities across inputs are adjusted in the nested cost function for the electricity sector to best fit a target marginal abatement cost (MAC) curve derived from engineering assessments of available technologies. Elasticities are optimized over an entire relevant range of the MAC, whereas current techniques use local point estimates under little or no abatement. In the context of fitting to a given MAC we evaluate alternative nesting structures and find that, while complexity in nesting improves the fit, even relatively simple nesting structures can reasonably approximate the target MAC. In our example, focused on the electricity sector, we find standard elasticities adopted in top-down models moderately overstate abatement costs relative to the engineering targets. In our preferred specification the most important adjustment is to escalate the substitution elasticity between energy and value-added inputs. This is consistent with an argument that the current set of point estimates fail to properly account for new capital-based technologies. These conclusions, however, are sensitive to our assumption about output-intensity abatement and consumer price responsiveness, both of which are not delineated in engineering estimates.","PeriodicalId":44607,"journal":{"name":"Journal of Global Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":2.5,"publicationDate":"2023-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44071925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

GEMPACK simulations in R: Ademonstration of running the GTAP modeland processing its results entirely in R using packages HARr and tabloToR 在R中的GEMPACK模拟:演示运行GTAP模型并完全在R中使用HARr和tabloToR包处理其结果

IF 2.5

Journal of Global Economic Analysis Pub Date : 2023-06-09 DOI: 10.21642/jgea.080101af

M. Ivanic

引用次数: 0

A Latin Hypercube Sampling Utility: with an application to an Integrated Assessment Model 拉丁超立方体抽样实用程序:对综合评估模型的应用

IF 2.5

Journal of Global Economic Analysis Pub Date : 2023-06-09 DOI: 10.21642/jgea.080102af

Dominique van der Mensbrugghe

{"title":"A Latin Hypercube Sampling Utility: with an application to an Integrated Assessment Model","authors":"Dominique van der Mensbrugghe","doi":"10.21642/jgea.080102af","DOIUrl":"https://doi.org/10.21642/jgea.080102af","url":null,"abstract":"This paper describes the use of a utility that creates a Latin Hypercube Sample (LHS). The LHS approach to sampling has had wide applicability as it represents a Monte Carlo strategy that limits sample size and therefore computer time to study the outcomes of simulations under uncertainty. Other approaches to deal with the ’size’ problem include Gaussian Quadrature (GQ) (Arndt, 1996), often used in the context of large models such as computable general equilibrium models. However, the GQ approach is most suitable for focusing on a small set of uncertain parameters as the number of model evaluations increases substantially with the number of uncertain parameters and/or the moments to track. The utility is a new version of the LHS utility that has been publicly available from Sandia National Labs since the early 2000s. Beyond the recoding from FORTRAN to C/C++, the new version of the utility has some additional features including new output options and additional statistical distributions. This paper demonstrates the use of the new utility by coupling it to an integrated assessment (IAM) model which is derived from the META 21 model developed by Dietz et al. (2021). The META 21 model has many components that can be readily integrated into global economic models that track greenhouse gas emissions—a simple climate module, economic impacts derived from sea-level and temperature rises and bio-physical tipping points such as the Amazon dieback. The IAM results suggest that the social cost of carbon increases by an average of around 26% when taking into account the tipping points and that the tipping points lead to an additional decline of 0-5% in per capita consumption in 2100 on top of the other damages related to climate change. The utility and the code to the IAM model are available as supplementary materials.","PeriodicalId":44607,"journal":{"name":"Journal of Global Economic Analysis","volume":" ","pages":""},"PeriodicalIF":2.5,"publicationDate":"2023-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44719186","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A general equilibrium model with an asymmetric Armington function: Method and application 具有非对称Armington函数的一般平衡模型：方法和应用

IF 2.5

Journal of Global Economic Analysis Pub Date : 2022-12-20 DOI: 10.21642/jgea.070204af

M. Cicowiez, H. Lofgren

引用次数: 1

New Price-based Bilateral Ad-valorem Equivalent Estimates of Non-tariff Measures 以价格为基础的非关税措施的新双边从价等效估计

IF 2.5

Journal of Global Economic Analysis Pub Date : 2022-12-20 DOI: 10.21642/jgea.070202af

Anna Strutt, C. Utoktham, Y. Duval

引用次数: 2

Mathematics of Generalized Versions of the Melitz, Krugman and Armington Models with Detailed Derivations 梅利茨，克鲁格曼和阿明顿模型的广义版本的数学与详细的推导

IF 2.5

Journal of Global Economic Analysis Pub Date : 2022-12-20 DOI: 10.21642/jgea.070203af

Edward J. Balistreri, David G. Tarr

引用次数: 0

The Global Trade Analysis Project (GTAP) Data Base: Version 11 全球贸易分析项目(GTAP)数据库:第11版

IF 2.5

Journal of Global Economic Analysis Pub Date : 2022-12-20 DOI: 10.21642/jgea.070201af

Angel H. Aguiar, M. Chepeliev, Erwin Corong, Dominique van der Mensbrugghe

引用次数: 11