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Symmetrically, for those who lose, the EV indicates the maximum an individual would be willing to pay to avoid the economic pain imposed by a given package of policy changes (Varian, 1992). 14% of world GDP in 2001. The policy changes implemented by OECD countries would contribute the lion’s share (67%) of the global gain. But the reductions of import tariffs by non-OECD countries also yield a significant contribution. Agricultural policy reforms in OECD countries would yield a gain of USD 23 billion or 78% of the total potential contribution from all OECD reforms.

Key technical characteristics of this modified version of GTAP, called GTAPEM, are described in the Annex to Part I. org/agr/reform/gtapem. The GTAP database contains all the information that would be needed to construct highly detailed CGE models for a long list of individual countries, regions, economic sectors and commodities. The coverage of agricultural commodities is especially rich. AGRICULTURAL POLICY AND TRADE REFORM: POTENTIAL EFFECTS AT GLOBAL, NATIONAL AND HOUSEHOLD LEVELS – ISBN-92-64-02573-1 © OECD 2006 Chapter 2.

Symmetrically, for those who lose, the EV indicates the maximum an individual would be willing to pay to avoid the economic pain imposed by a given package of policy changes (Varian, 1992). 14% of world GDP in 2001. The policy changes implemented by OECD countries would contribute the lion’s share (67%) of the global gain. But the reductions of import tariffs by non-OECD countries also yield a significant contribution. Agricultural policy reforms in OECD countries would yield a gain of USD 23 billion or 78% of the total potential contribution from all OECD reforms.

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