The GTAP Model

The standard GTAP model is a multi region, computable general equilibrium model, with perfect competition and constant returns to scale. Bilateral trade is handled via the Armington assumption. Innovative aspects of this model include: the treatment of private household preferences using the non-homothetic CDE functional form, explicit treatment of international trade and transport margins, and a global banking sector which intermediates between global savings and consumption. The standard model also gives users a wide range of closure options, including a selection of partial equilibrium closures that facilitate comparison of results to studies based on partial equilibrium assumptions. The model is implemented using the GEMPACK software suite.

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