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      • Department of Economics
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      A plea for greater attention on the data in policy analysis

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      Author
      Mercenier, J.
      Yeldan, E.
      Date
      1999
      Source Title
      Journal of Policy Modeling
      Print ISSN
      0161-8938
      Electronic ISSN
      1873-8060
      Publisher
      Elsevier Inc.
      Volume
      21
      Issue
      7
      Pages
      851 - 873
      Language
      English
      Type
      Article
      Item Usage Stats
      128
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      77
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      Abstract
      The technical difficulties associated with building and solving applied general equilibrium (GE) models seem to have distracted our attention from the data. In this article, we forcefully stress that whatever the sophistication of the GE analysis, it is only worth the quality of the supporting data it utilizes. We first highlight an example of a flagrant flaw in officially published input-output data (factor-income shares) by an LDC (Turkey), which many researchers use without question. We then make use of an applied GE model to evaluate the dynamic gains for Turkey from currently debated trade policy options and compare the predictions using conservatively adjusted, rather than official, data on factor shares. We show that the predicted welfare gains are not only of a different order of magnitude, but in some cases, of a different sign; hence, suggesting contradictory policy recommendations.
      Keywords
      Applied general equilibrium
      Data
      Development
      Policy analysis
      Turkey
      Permalink
      http://hdl.handle.net/11693/11080
      Published Version (Please cite this version)
      http://dx.doi.org/10.1016/S0161-8938(98)00024-6
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      • Department of Economics 649
      • Department of International Relations 516
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