INTERNATIONAL PRICE TRANSMISSION IN CGE MODELS: HOW TO RECONCILE ECONOMETRIC EVIDENCE AND ENDOGENOUS MODEL RESPONSE?
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The field of price transmission is dominated by econometric time-series analysis
(PTA) and rather disconnected from analyses based on CGE models. This paper addresses how a
certain degree of empirically determined price transmission can be met in a single country CGE
model. We examine and validate seven determinants including structural characteristics of the
model, the parameterization of behavioral functions and properties of the sectors concerned.