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GTAP Resources: Resource Display

GTAP Resource #2724

"Economic Growth and Income Distribution: Linking Macroeconomic Models with Household Survey Data at the Global Level"
by De Hoyos, Rafael, Maurizio Bussolo and Denis Medvedev


Abstract
In an increasingly globalize world, many domestic policies have an impact that goes beyond the country’s own frontiers, similarly, several economic policy proposals have a global nature, e.g. trade liberalization agendas, policies mitigating climate changes, etc. The GIDD is the first global CGE-Microsimulation model and it therefore closes an important gap in the policy evaluation empirical literature. The paper shows a new methodology to evaluate the global welfare effects of global and domestic macroeconomic policies. The GIDD is able to incorporate, in an ex-ante fashion, changes in demographic composition, sectoral re-allocation of labor, shifts in relative wages and overall growth and it thus represents an important step towards a more integrated global Macro-Micro evaluation framework. The paper develops the methodology in detail and then illustrates its usefulness by showing three recent applications if the GIDD: (a) how the global income distribution of income will look like in 2030, (b) how changes in the global growth, income distribution, and global middle class will be determined by China and India, and (c) an evaluation of the global poverty and distributional consequences of eliminating all present agricultural distortions. Although the GIDD represents an important contribution to our understanding of the global welfare effects of macro policies, more research is needed to update the GIDD’s data and expand its modeling capabilities.


Resource Details (Export Citation) GTAP Keywords
Category: 2008 Conference Paper
Status: Published
By/In: Presented at the 11th Annual Conference on Global Economic Analysis, Helsinki, Finland
Date: 2008
Version:
Created: De Hoyos, R. (4/15/2008)
Updated: De Hoyos, R. (4/15/2008)
Visits: 2,048
- Economic development
- Economic analysis of poverty


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