An Empirical Database for a General Equilibrium Model of the European Communities

Abstract

We document the main features of a database that has been constructed for use in an applied general equilibrium model. The model is designed to evaluate policies of the European Community (EC), including membership. The database includes each of the major members of the EC in the 1970’s: Germany, France, Italy, the Netherlands, Belgium, the United Kingdom, Denmark and Ireland. It also includes three further trading regions: the United States, Japan and a residual Rest of World. Four aspects of our database are documented. The first is the collection and use of “raw data” from a number of sources for 1975. The second aspect is the generation of a multi-year database, with 1975 serving as a “reference year” for temporal updates to more recent years. The third aspect is the application of the database to the calibration of a “generic” general-equilibrium trade model. The final aspect is the use of the database to study the historical accession of the United Kingdom to the EC. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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