The process of globalization has brought a major change in the international economy, and the scope of feasible trade between countries has broadened. Global value chains combine participation by geographically disperse suppliers in the production of modern manufactures characterized by an...

Armington elasticities of substitution – AEs – are a crucial set of parameters that allows CGEMs applied to trade to be operational. In the case of Uruguay, no estimated values for these parameters have been available until now, forcing researchers to impose them arbitrarily. We here start...