Implementation of GTAP Technical Paper No.7,
"Liberalization and Capital Accumulation in the GTAP Model"
by Francois, J., B. McDonald and H. Nordstrom.
For discussion of the basic experiment, see:
"Evaluating the benefits of abolishing the MFA in the Uruguay
Round package" by Yang, Y., W. Martin and K. Yanagishima,
in Global Trade Analysis by T. Hertel (Chapter 10).
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I.  SUMMARY

    This version uses a 10-good 10-region aggregation. Three Experiments are provided, corresponding to different closure settings. The first experiment, EXP1, is based on the assumption of a fixed capital stock. This is the usual, comparative static closure. EXP2 introduces capital accumulation based on the assumption of a fixed savings rate. The final experiment, E3, introduces capital accumulation in order to ensure a fixed return on capital, as would be the case in a steady-state solution. Therefore, the rate of savings in E3 is endogenous.
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This version uses the GTAPTP14 model, which has some different equations (TAB file) and variables from the standard GTAP model. Use the Version..Modules command to verify that the GTAPTP14 module is indeed used. 
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II. REGIONS AND COMMODITIES

The regions are:
    AUS     	Australasia
    NAM     	North America
    EU        	European Union
    JPN      	Japan
    NIE          	Asian NIEs
    ASN     	ASEAN
    CHN     	China
    SAS        	South Asia
    LTN     	Latin America
    ROW     	Rest of World

The goods are:
    AGR     	Agriculture
    MNG     	Extraction
    PFD     	Processed Food
    TXL         	Textiles
    CLG     	Clothing
    I_S          	Iron and Steel
    TRE     	Transport Equipment
    M_E     	Machinery and Equipment
    OMF     	Other Manufactures
    Services    	Services

Note: The aggregation specification is fully documented in GTAP book Chapter 10.


III. EXPERIMENT FILES: SHOCKS, CLOSURES AND SOLUTION METHOD

SHOCKS: a complete Uruguay reform setting as in the fourth experiment of Chapter 10.

CLOSURES:

    EXP1    Standard static GTAP closure
            qo("capital", REG)	exogenous
            saveslack            	exogenous
            EXPAND             	endogenous
            REAL_RET          	endogenous

    EXP2    Fixed savings rate closure with capital accumulation
            qo("capital", REG)	endogenous
            saveslack              	exogenous
            EXPAND                	exogenous
            REAL_RET          	endogenous

    EXP3    Endogenous savings rate closure with capital accumulation
THIS EXPERIMENT IS NOT SUPPORTED BY THE RUNGTAP VERSION
            qo("capital", REG)	endogenous
            saveslack            	endogenous
            EXPAND                	exogenous
            REAL_RET           	exogenous

SOLUTION METHOD: Gragg 2-4-6 steps extrapolation (with automatic accuracy)
Note: The automatic accuracy gives rather more accurate results than those originally
reported in the GTAP book.

