Hillberry, Russell H.; Anderson, Michael A.; … - In: Review of International Economics 13 (2005) 5, pp. 973-984
We note that calibration parameters in a multi-country Armington trade model play a role similar to that of econometric residuals: they allow the model to fit the data exactly. We use this premise to evaluate the "fit" of a standard multi-country computable general-equilibrium model. We find...