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GTAP Resource #1238

"The Specification of Price and Income Elasticities in Computable General Equilibrium Models: An Application of Latent Separability"
by Gohin, Alex

This paper contributes to the ongoing debate about the specifications of price and income effects in CGE models. We detail in this paper a procedure which allows to implement in such models any regular configuration of price and income effects. This procedure exploits the advantages of latent separability. By allowing some overlapping in the grouping of commodities, this separability concept offers much more flexibility than other separability structures since substitution between goods runs through many channels.
This paper also provides an empirical illustration which demonstrates the applicability of our procedure and which highlights, once again, the substantial bearing of these specifications on CGE results.

Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
2003 Conference Paper
Status: Published
By/In: Presented at the 6th Annual Conference on Global Economic Analysis, The Hague, The Netherlands
Date: 2003
Created: Gohin, A. (4/29/2003)
Updated: Bacou, M. (9/27/2003)
Visits: 2,447
- Calibration and parameter estimation

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