Policy Analysis and Modeling of the Global Economy

This volume honors the extraordinary career of Thomas Hertel. It also celebrates the 25th anniversary of the founding of the Global Trade Analysis Project (GTAP) by Prof. Hertel. All of those contributing to this volume, including Prof. Hertel's students and colleagues, have benefitted in some ways from the selfless professional generosity and dedication to scientific public goods that have been hallmarks of his career.The book examines the history of the GTAP project, the scientific contributions of Prof. Hertel, and the general application of computational modeling to global economic policy analysis. The applications in the volume, reflecting the broad contributions made by the GTAP community to global policy analysis, range from the impact of globalization on employment to the sustainability impacts of economic integration.Contents: Introduction (Peter Dixon, Joseph Francois and Dominique van der Mensbrugghe) Research, Policy, and a Legacy of Relevance: Tom Hertel's Influence and Its Lessons about Academic Inquiry (Russell Hillberry and David Hummels) Back to the Future: A 25-Year Retrospective on GTAP and the Shaping of a New Agenda (Frank van Tongeren, Robert Koopman, Stephen Karingi, John Reilly and Joseph Francois) Issues in Global Modeling: Calibrating Long-Term Trade Baselines in General Equilibrium (Lionel Fontagné and Jean Fouré) Trade Tensions and Trade Policy Uncertainty(Eddy Bekkers and Robert Teh) Reversing NAFTA: A Supply Chain Perspective(Terrie L Walmsley and Peter J Minor) Trade and Policy: Labor Composition of Fixed Costs, Heterogeneous Firms, and the US Labor Market (Zeynep Akgul, Caitlyn Carrico and Marinos Tsigas) From Global Economy-Wide Modeling to Modeling a Small Product Market: The Case of Wine (Kym Anderson and Glyn Wittwer) 21st Century Trade Wars (Edward J Balistreri and Russell H Hillberry) Potential Impacts of Regional Trade Agreements on Vietnam: A Dynamic CGE Analysis (Peter J Minor, Terrie L Walmsley and Anna Strutt) Forgone Benefits of Economic Integration: Effects of Brexit on Ireland (Christine Arriola, Donal Smith and Frank van Tongeren) Sustainability and Migration: The Evolution of Methodology and Coverage of EU Ex Ante Trade Sustainability Impact Assessments (TSIAs) (Hugo Rojas-Romagosa) Biome Composition in Deforestation Deterrence and GHG Emissions in Brazil (Joaquim Bento de Souza Ferreira Filho and Mark Horridge) Use of General Equilibrium Models in Evaluating Biofuels Policies (Ehsanreza Sajedinia and Wallace E Tyner) Improving the Way Land Use Change is Handled in Economic Models (Xin Zhao, Dominique Y van der Mensbrugghe, Roman M Keeney and Wallace E Tyner) Immigration Reform Scenarios for US Agriculture (Peter B Dixon and Maureen T Rimmer) Readership: Research economists in quantitative modeling of trade and climate policy, and policy analysts at think tanks, economic ministries, trade ministries, and environmental ministries.Computable General Equilibrium Modeling;CGE Models;Trade Policy Modeling;GTAP;Global Trade Analysis Project;Trade Impact Assessments;Sustainability Impact Assessments;Trade and Employment;Trade and Climate;Globalization;Preferential Trade Agreements;Thomas Hertel0Key Features: The contributors to this volume include eminent scholars working on the topic of global trade and investment modeling The volume provides a fresh perspective on the role of model-based analysis in socio-economic and sustainability impacts of economic integration (and disintegration in the case of BREXIT) Chapters in the volume will be standard references on model-based trade and environmental impact assessments