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An Independent Assessment of the SALTER General Equilibrium Model of the World Economy

Salter Working Paper Number 8

An Independent Assessment of the SALTER General Equilibrium Model of the World Economy by Thomas Hertel is Working Paper number 8 in the development of The SALTER Model of the World Economy.

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Contents

I   Overview and Purpose of the Review

II   Overall Contribution of the Work

III   Review of Model Structure - Broad Issues
A   Model Coverage
B   Preferences
C   Technology
D   Behavioural Assumptions
E   Factor Mobility
F   Model Closure
G   Treatment of Policy Interventions

IV   Data Base - General Comments

V   Overall Assessment

References

Appendix   Notes on Introducing Product Differentiation by Firm and Monopolistic Competition into the SALTER Model

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