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Zhi Wang U.S. International Trade Commission E-Mail: zhi.wang@usitc

Computable General Equilibrium Modeling and Its Application in Trade Policy Analysis Lab 2: Single and Multi-country CGE Model in GAMS. Zhi Wang U.S. International Trade Commission E-Mail: zhi.wang@usitc.gov. Outline (part one). Single Country CGE Model: IFPRI standard single country model

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Zhi Wang U.S. International Trade Commission E-Mail: zhi.wang@usitc

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  1. Computable General Equilibrium Modeling and Its Application in Trade Policy Analysis Lab 2: Single and Multi-country CGE Model in GAMS Zhi Wang U.S. International Trade Commission E-Mail: zhi.wang@usitc.gov

  2. Outline (part one) • Single Country CGE Model: IFPRI standard single country model • Model set up and calibration • How simulations are conducted • Change to your own data file • For more info: read Chapter 5 of “A Standard Computable General Equilibrium (CGE) Model in GAMS” by Lofgren, Hans et al, page 42-45.

  3. Steps to use IFPRI single country CGE model • The model program is segmented into two main GAMS files • Mod101.gms: set up the model, conduct calibration and solve for the base • Sim101.gms: define simulation scenarios, solve all defined simulation within a loop, and report simulation results • Zimbabwe.dat: the data file for the model • Save and restart the model program in IDE

  4. Steps to use IFPRI single country CGE model Open IDE • Create a project, define a project name and location • Run mod101.gms and save as base • Run sim101.gms to simulate the five scenarios defined in the program • Understand the input data file and prepare your own country specific data

  5. Outline (part two) • Global CGE Model for World Production and Trade: A seven-region, seven sector example • Model set up and calibration • How Simulation are conducted • Report programs • Consistence test of the model

  6. Steps to use Global CGE model • The model program is segmented into three main parts • ncea.gms: set up the model, conduct calibration and solve for the base • sim1.gms: define simulation scenarios (different FTA), solve all defined simulations • rptt.gms and trade.gms: write out all simulation results as Excel files • Save and restart the model program in IDE

  7. Consistence Test After Calibration Open IDE • Create a project, define a project name and location • Only relative price matters, one equation need dropped from the model • Test of Walras Law • Test of homogeneous, when the numeraie doubles all prices in the model should double, and should no impact on quantities

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