Resource Center

Advanced Search
Technical Papers
Working Papers
Research Memoranda
GTAP-L Mailing List
CGE Books/Articles
Important References
Submit New Resource

GTAP Resources: Resource Display

GTAP Resource #3434

"Incorporating Commodity Stockholding into a General Equilibrium Model of the Global Economy"
by Hertel, Thomas, Jeff Reimer and Ernesto Valenzuela

Applied General Equilibrium (AGE) models are increasingly used for short-run commodity market analysis, although they are generally not designed for such purposes. This study remedies a key shortcoming of such work by incorporating a commodity stockholding model into a short-run global AGE model. An approach to calibrating and validating the model is demonstrated for the staple grains sector. Its historical weather-induced supply shocks form a natural vehicle for reconciling model outcomes with observed behavior. The stockholding model, in conjunction with a Gaussian Quadrature approach to characterizing supply-side uncertainty, will prove useful to researchers seeking to conduct short-run analysis of commodity market policy in an AGE context.

Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Published
By/In: Economic Modelling 22(4):646-664
Date: 2005
Created: Reimer, J. (9/10/2010)
Updated: Reimer, J. (9/10/2010)
Visits: 2,245
- Calibration and parameter estimation
- The GTAP Data Base and extensions
- Baseline development

If you have trouble accessing any of the attachments below due to disability, please contact the authors listed above.

Public Access
No documents have been attached.

Restricted Access
No documents have been attached.

Special Instructions
No instructions have been specified.

Comments (0 posted)
You must log in before entering comments.

No comments have been posted.