This paper examines methods aimed at improving baseline economic forecasts using a dynamic CGE model. Forecasting can be used to test the validity of such models, as well as to highlight possible improvements, by investigating the discrepancies between the forecast and actual outcomes. The model...

We analyse the welfare outcomes of market distortions using a general-equilibrium model of a small, open economy that captures the trade-theoretic continuum from specific factors to Heckscher-Ohlin. We show the importance of two intrinsically dynamic phenomena on evaluating market distortions:...