This paper investigates the robustness of CGE models with respect to the elasticities of substitution in demand between domestically produced goods and foreign goods – the so-called Armington elasticities. The Armington-type modeling of trade is still one of the most extensively used...

CGE models are widely used for policy evaluation and impact analysis especially with respect to trade reforms, tax reforms, energy sector reform and development policy analysis. However, the results of such models are often argued to be sensitive to the choice of exogenous parameters such as...

This paper investigates the robustness of CGE models with respect to the elasticities of substitution in demand between domestically produced goods and foreign goods – the so-called Armington elasticities. The Armington-type modeling of trade is still one of the most extensively used...

This paper undertakes the simultaneous estimation of import elasticities of substitution (trade elasticities) within European Union (EU) regions, differentiating between imports from regions belonging to the same country (national or interregional trade) and regions belonging to other EU...

We note that calibration parameters in a multi-country Armington trade model play a role similar to that of econometric residuals: they allow the data to fit the model exactly. We use this premise to evaluate the 'fit' of a standard multi-country computable general equilibrium (CGE) model. We...

In this paper we use detailed trade and production data and a theoretically consistent model of demand - the Almost Ideal Demand System - to estimate bilateral trade elasticities, the key parameters required for quantification of the effects of the `1992' programme. Initial results for 70 West...

CGEMs are one of the most potentially powerful tools for simulating policies. However, a major restriction they face is them needing a huge number of parameters that are not always available, and even at times impossible to obtain. When CGEMs are applied to trade, Armington elasticities of...

This paper aims to implement the simulation studies using a CGE approach to identify ideas on how to finalize the DDA negotiations by making some mutual concessions and deal with contentious issues yet to be agreed. The simulation results of this paper, which lay between those of the previous...

This paper examines real and financial linkages between Saudi Arabia and other GCC countries. Growth spillovers from Saudi Arabia to Bahrain are found to be sizeable and statistically significant, but those to other GCC countries are not found to be significant. Equity market movements in Saudi...