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Estimation of Armington elasticities in a CGE economy–energy–environment model for Europe

Németh, Gabriella ; Szabó, László ; Ciscar, Juan-Carlos

Economic modelling, 2011-07, Vol.28 (4), p.1993-1999 [Periódico revisado por pares]

Amsterdam: Elsevier B.V

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Título:
Estimation of Armington elasticities in a CGE economy–energy–environment model for Europe
Autor: Németh, Gabriella ; Szabó, László ; Ciscar, Juan-Carlos
Assuntos: Applied general equilibrium models ; Armington trade elasticities ; Armington trade elasticities Econometric estimation Computable general equilibrium model ; Computable general equilibrium model ; Consumers ; Econometric estimation ; Econometrics ; Elasticity ; Energy economics ; Environment ; Estimation ; Imports ; Prices ; Rule of origin ; Studies
É parte de: Economic modelling, 2011-07, Vol.28 (4), p.1993-1999
Notas: ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
Descrição: The main goal of the article is to estimate Armington elasticities of the energy and energy-intensive sectors of the GEM-E3 computable general equilibrium model. The model follows the standard two-stage budget optimisation of the consumer by first optimising between domestically produced and imported goods and, then, by country of origin. A panel data econometric framework is used here with dynamic adjustment to capture both the long and short term elasticities for the studied six aggregated sectors in Europe. The estimated long-term elasticities are in line with the literature, but higher than those used in the GEM-E3 model. The results suggest that consumer choice appears to be more price sensitive between the domestic and the composite imported goods, and amongst the importers, than already assumed in the model. ► The article estimates the Armington function parameters of the CGE GEM-E3 model. ► The work enhances the empirical basis of the GEM-E3 model. ► State-of-the-art panel econometric analysis and a large EU database are used. ► The estimated parameter values are in general higher than those of the GEM-E3 model.
Editor: Amsterdam: Elsevier B.V
Idioma: Inglês

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Estimation of Armington elasticities in a CGE economy–energy–environment model for Europe

Németh, Gabriella ; Szabó, László ; Ciscar, Juan-Carlos

Amsterdam: Elsevier B.V

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