Walras - A Multi-Sector, Multi-Country Applied General Equilibrium Model for Quantifying the Economy-Wide Effects of Agricultural Policies

Abstract

This paper presents a technical description of the OECD's multi-sector, multi-country applied general equilibrium model -- the WALRAS model. This model has been developed with the explicit objective of quantifying the economy-wide effects of agricultural policies in OECD countries. The common specification of the model for the major OECD agricultural trading countries/regions (Australia, Canada, EEC, Japan, New Zealand and the United States) is presented in detail. The construction of the benchmark data sets and the calibration of the model are also fully described ...

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