© Scott McDonald
GLOBE 2
GLOBE v2 is a development of GLOBE v1. The main differences compared to GLOBE v1 are:
- Introduction of VAT on household purchases
- Separation of import duties between specific and ad valorem (equivalents) (a new feature in GTAP 8)
- Introduction of code for TRQs (practical implementation of TRQs is limited by lack of data)
- Additional nest in the production system between skilled and unskilled labour
- The use of a MCP specification for factor supplies, which renders all factors capable of experiencing unemployment
- Revised model closure rules
- Adjustments to the code to facilitate operation of the recursive dynamic versions of GLOBE
- General tidying of the code to remove ‘anomalies’, inconsistencies and ‘legacy, names for parameters and variables