ELASTICITIES IN THE TRADE LIBERALIZATION DATABASE

This report documents the elasticities that are available in the Trade Liberalization (TUB) database, which are used by the Static World Policy Simulation (SWOPSIM) framework for generating TLIB models. The price elasticities of supply and demand are the key elements of models created from the TLIB database because these elasticities summarize the supply and demand behavior of each country to a price change as a result of a change in government policy. Various sources of elasticities have been used to compile a set of elasticities consistent with the data in the database