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| capri:concept:market [2011/10/04 08:10] – wolfgangb | capri:concept:market [2014/04/11 12:37] – external edit 127.0.0.1 |
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| <P>The market part of CAPRI is based on functional forms which ensure globally symmetry, homogeniety and correct curvature. The functions are second order flexible which means that can be calibrated against any set of own and cross-price elasticities which are in line with micro-economic conditions at the prices and quantities of the calibration point. That ease the integations of results from econometric studies or mimicking the behaviour of other models in CAPRI. Recently, to give an example, price sensitivitiy experiments with the highly detailed agricultural sector model SILAS from Switzerland were used to derive the parameterisation of the related behavioural equations in CAPRI.</P> | <P>The market part of CAPRI is based on functional forms which ensure globally symmetry, homogeniety and correct curvature. The functions are second order flexible which means that can be calibrated against any set of own and cross-price elasticities which are in line with micro-economic conditions at the prices and quantities of the calibration point. For ex-ante simulations, the calibration is performed at the future prices and quantities of the baseline.</P> |
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| | <P>That ease the integations of results from econometric studies or mimicking the behaviour of other models in CAPRI. Recently, to give an example, price sensitivitiy experiments with the highly detailed agricultural sector model SILAS from Switzerland were used to derive the parameterisation of the related behavioural equations in CAPRI.</P> |
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| <P>Human consumption is modelled based on a generalized Leontief expenditure function.</P> | <P>Human consumption is modelled based on a generalized Leontief expenditure function.</P> |
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