GTAP Resources: Resource Display
| GTAP Resource #5741 |
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"Introducing more flexible modelling of regional household consumption and saving behaviour into the dynamic GTAP model" by Gretton, Paul Abstract A dynamic version of the GTAP model of the global economy became available in 2012. The dynamic version known as GDyn, introduced partial adjustment mechanisms for capital accumulation and a dynamic accounting of capital-finance and related income flows between regional households and firms, and a global trust. This paper builds on this original work by including a revised modelling of investment and capital-finance flows to reach a long-run equilibrium in which model rates of return are equal and stable over time. This paper then further adds to the capabilities of the GDyn model by: (i) relaxing the assumption of fixed shares in the consumption-saving decisions of national households; and (ii) providing for the inclusion of exogenously determined changes in national consumption-saving choices. The revised model — termed GDyn-FS — is used to: infuse forecast reductions in saving as a proportion of domestic income for China in a model base line; and, against this base line, simulate a decline in the willingness to invest in a medium-sized open economy. |
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- Baseline development - Dynamic modeling - Model validation and sensitivity analysis - Economic growth - Foreign direct investment - Technological change - Domestic policy analysis - Asia (South-Central) - European Union - North America |
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Public Access  GTAP Resource 5741 (1,020.8 KB) Replicated: 0 time(s) GTAP Resource 5741 (1.5 MB) Replicated: 0 time(s) GTAP Resource 5741 (354.4 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions See Resource at https://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=6457 for link to refereed application of the model, supporting computing instructions and databases. The article is supported by a detail description of the model. |
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Last Modified: 9/15/2023 2:05:45 PM
