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The SALTER Model of the World Economy: Model Structure, Database and Parameters

Industry Commission Staff Research Paper

The SALTER Model of the World Economy: Model Structure, Database and Parameters, by P. Jomini, R. McDougall, G. Watts, and P.S Dee was released in April 1994.

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CONTENTS

Preliminaries
Cover, Copyright, Preface, Acknowledgements, Wilfred Edward Graham Salter

1   The Salter Model structure
1.1   Regions and commodities
1.2   The economic structure of the Salter Model
1.3   Solving the linear system of equations
1.4   Economic environments

2   The benchmark data set
2.1   Construction of the database
2.2   Relative sizes and characteristics of modelled regions
2.3   Industry assistance data

3   Parameter settings
3.1   Elasticities of substitution among primary factors
3.2   Trade elasticities in the Salter Model
3.3   Consumer demand parameters
3.4   The elasticity of labour supply

Appendix A   Theoretical specification of the Salter Model
A.1   Notation
A.2   Writing Salter Model equations as linear approximations in percentage changes

Appendix B   Consumer demand and trade elasticities

References

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