CAPRI
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capri:concept:market [2011/04/04 14:33] – created ::1capri:concept:market [2011/10/04 08:02] – wolfgangb
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-      <P>The CAPRI global market model is a <B>comparative static Multi-Commodity model</B>. It covers 47 primary and secondary agricultural products. Product+      <P>The CAPRI global market model is a <B>spatial comparative static Multi-Commodity model</B>. It covers 47 primary and secondary agricultural products. Product
  
       quantities are expressed in physical primary product equivalent according to the concept of Supply Utilization Accounts of FAO. The global market       quantities are expressed in physical primary product equivalent according to the concept of Supply Utilization Accounts of FAO. The global market
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       tend to increase quadratically with the number of country blocks in a spatial model, not all countries of the world are covered individually.       tend to increase quadratically with the number of country blocks in a spatial model, not all countries of the world are covered individually.
  
-      Rather, CAPRI uses <A HREF="regMarket.htm">28 trade blocks</A>, leading to a total of around 40.000 endogenous variables and the same number of equations.+      Rather, CAPRI uses <A HREF="regMarket.htm">32 trade blocks</A>, leading to a total of around 46.000 endogenous variables and the same number of equations.
  
       Some of the trade blocks, as EU15 or EU10 are broken down to individual countries to allow for a welfare analysis at the country level so that the model       Some of the trade blocks, as EU15 or EU10 are broken down to individual countries to allow for a welfare analysis at the country level so that the model
  
-      differentiates between 60 individual countries or country blocks. Changes in the+      differentiates between 67 individual countries or country blocks. Changes in the
  
       trade flows are based on the Armington assumption which uses a CES utility function to aggregate from single trade flows to total       trade flows are based on the Armington assumption which uses a CES utility function to aggregate from single trade flows to total
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       market appearances so that trade shares depend on price relations. Two CES nests are applied: one to break total market appearances       market appearances so that trade shares depend on price relations. Two CES nests are applied: one to break total market appearances
  
-      into from domestic production and imports, and a second one to break imports into individual origins. Accordinly, it is assumed that product quality+      into from domestic production and imports, and a second one to break imports into individual origins. Accordingly, it is assumed that product quality
  
       is differentiated by origin and determines the willingness to pay of the consumer.</P>       is differentiated by origin and determines the willingness to pay of the consumer.</P>
   
 
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