Go to main content
Did you know? By making a gift to AgEcon Search, you are helping ensure that our small non-profit continues to provide free full-text access to 15,000 visitors a day from 170+ countries
Format
BibTeX
MARCXML
TextMARC
MARC
DublinCore
EndNote
NLM
RefWorks
RIS

Files

Abstract

This paper takes the mini USAGE model developed by Dixon and Rimmer (2005) and modifies it in order to better mimic the expected adjustment path following a tariff reduction. Results from the adjusted model are compared against the standard model. It is found that while the standard model does a good job of capturing the expected long-run behaviour of the economy in response to this shock, the adjustment path is not appropriate. However, with a few relatively straight forward changes, the standard model can produce both satisfactory long-run outcomes and a more plausible adjustment path. These changes are documented in an appendix and are considered applicable to a wide range of models currently in use.

Details

PDF

Statistics

from
to
Export
Download Full History