This paper discusses which changes in the architecture of a standard CGE model are needed in order to introduce effects of trade and firm heterogeneity à la Melitz. Starting from a simple specification with partial equilibrium, one primary production factor and one industry, the framework is...

This paper analyzes the qualitative properties of a multisectoral, multiregional computable general equilibrium model where some industries include heterogeneous firms as in Melitz (2003). The model, formulated according to Roson and Oyamada (2014), adds endogenous productivity effects to a...

This paper presents a first exercise comparing the cost of climate change stemming from integrated assessment models using reduced-form climate change damage functions with that performed by a CGE model. Furthermore, it investigates the role of market driven adaptation, which CGE models...

The overlapping generations (OLG) model is an important framework for analyzing any type of question in which age cohorts are affected differently by exogenous shocks. However, as the dimensions and degree of heterogeneity in these models increase, the computational burden imposed by rational...

TERM is used to analyse the short term regional economic impact of an increase in industries’ transport costs when paying E-Tolls. Market-clearing and accounting equations allow regional economies to be represented as an integrated framework; labour adjusts to accommodate increasing...

We use a dynamic general equilibrium model of the world economy to assess the economic implications of higher vulnerability from extreme meteorological events. In particular, we consider the impact of climate change on ENSO/NAO cycles, and the implied variation on regional expected damages, due...

A Social Accounting Matrix (SAM) is a comprehensive, economy-wide data framework of real accounts, typically representing the economy of a nation but also providing the link between the economy and the rest of the world in terms of trade flows. However, in order to have a complete picture of the...

Although textile and apparel imports from most countries entered the United States quota-free after the expiration of the Agreement on Textiles and Clothing on January 1, 2005, substantial restraints remain on U.S. trade in these sectors, including high tariffs, quantitative restraints on China...

In this paper, we build on the insights of the Trade Restrictiveness Index (TRI) approach by computing uniform tariff equivalents for the European Union primary sector using the Global Trade Analysis Project model and its associated data base. The main contribution of the paper is to extend and...

In this article, the virtual water exchange between Mediterranean countries is considered, reference being to the implicit water content of traded goods. Virtual water flows associated with trade in agricultural goods are estimated. Subsequently, a general equilibrium economic model is used to...