G-Cubed is a multi-country, multi-sector, intertemporal general equilibrium model that has been used to study a variety of policies in the areas of environmental regulation, tax reform, monetary and fiscal policy, and international trade. It is designed to bridge the gaps between three areas of...

We argue that the rationalization gains often predicted by static applied general equilibrium models with imperfect competition and scale economies are artificially boosted by an unrealistic treatment of fixed costs. We introduce sunk costs into one such model calibrated with real-world data. We...

We present an empirical implementation of a general-equilibrium model of international trade with heterogeneous manufacturing firms. The theory underlying our model is consistent with Melitz (2003). A nonlinear structural estimation procedure identifies a set of core parameters and unobserved...

Strong opinions about the impact of globalization on poverty are not always backed by robust factual evidence. As argued in this paper, however, it is not all that easy to lay our hands on robust facts. Quantitative analyses of trade liberalization appear highly sensitive to basic modelling and...

We perform a meta-analysis of 110 studies that report simulated global welfare gains from trade liberalization under the WTO Doha Development Agenda (DDA) to test for hidden, author-specific model specification effects. We find that after controlling for other factors that influence simulation...

We argue that the rationalization gains often predicted by static applied general equilibrium models with imperfect competition and scale economies are artificially boosted by an unrealistic treatment of fixed costs. We introduce sunk costs into one such model calibrated with real-world data. We...

A two country multi-sectoral computable general equilibrium model for New Zealand and Australia is developed and applied to explore issues concerning the effects of the CER-induced tariff reductions and related topics. A comparison with a similar short-run exercise conducted in 1988 records...

On May 5, 2020, the U.S. Trade Representative announced plans to negotiate a free trade agreement with the United Kingdom. We use GTAP to model the economic impacts of this free trade agreement, exclusively focusing on the bilateral tariff elimination. We find that a standard GTAP model leads to...

We present an empirical implementation of a general-equilibrium model of international trade with heterogeneous manufacturing firms. The theory underlying our model is consistent with Melitz (2003). A nonlinear structural estimation procedure identifies a set of core parameters and unobserved...