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Updating USAGE: Baseline and Illustrative Application

Dixon, Peter, Rimmer, Maureen T and Waschik, Robert ORCID: 0000-0001-9306-1803 (2017) Updating USAGE: Baseline and Illustrative Application. Working Paper. Centre of Policy Studies (COPS), Victoria University.

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Abstract

USAGE is a dynamic, CGE model of the U.S. economy created at CoPS in collaboration with the U.S. International Trade Commission (USITC). The model has been used by and on behalf of: the USITC; the U.S. Departments of Commerce, Agriculture, Energy, Transportation and Homeland Security; private sector organizations such as the Cato Institute and the Mitre Corporation; and the Canadian Embassy in Washington DC. To keep the model relevant for policy analysis, it must be updated periodically. This paper describes a major update of USAGE undertaken for the USITC. In accordance with the CoPS contract with the USITC, the update task was to: 1. build a NAICS-based database at the 400-industry level for USAGE using the 2007 BEA benchmark input-output tables; 2. update this database to 2014; 3. create a baseline projection starting from the base year of 2014 and proceeding at 5 year intervals to 2024; and 4. conduct an illustrative USAGE policy simulation around the baseline. At the completion of this work in August 2016, the ITC requested a fifth task: 5. update from 2007 to 2015 rather than 2014 and create a baseline from 2015 to 2020. This paper describes how we undertook the five tasks.

Item Type: Monograph (Working Paper)
ISBN: 9781921654770
Additional Information:

CoPS/IMPACT Working Paper Number G-269, February 2017

Uncontrolled Keywords: C67; C68; C81; C82; D57; D58; USAGE CGE model; data updating; baseline forecasting
Subjects: FOR Classification > 1402 Applied Economics
Faculty/School/Research Centre/Department > Centre of Policy Studies (CoPS)
Depositing User: Symplectic Elements
Date Deposited: 15 Jun 2018 05:03
Last Modified: 29 Aug 2019 22:53
URI: http://vuir.vu.edu.au/id/eprint/36341
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