Agriculture Reference
In-Depth Information
Food
-0.63
-0.37
-0.22
-0.62
-0.23
-0.11
Fish
-0.01
0.32
0.45
0.00
0.50
0.60
Minerals
-0.15
0.30
0.56
0.33
1.01
1.21
Energy
0.06
0.08
0.18
0.15
0.17
0.25
Light manufacturing
0.46
0.19
0.64
0.85
0.45
0.80
Heavy manufacturing
-0.05
0.14
0.52
0.46
0.74
1.04
Transport
0.23
0.56
0.90
0.60
1.11
1.38
Infrastructure services
-0.07
0.32
0.59
0.23
0.83
1.04
Construction and dwellings
-1.48
0.94
0.99
-0.31
3.40
3.44
Other services
-0.05
0.49
0.77
0.58
1.41
1.63
Real GDP,
Y
-0.09
0.42
0.70
0.41
1.19
1.41
Unsklled wage and employment
Nominal (unskilled) wage,
W
-0.87
-0.40
0.17
-1.06
-0.34
0.10
Production real wage,
w=W/P
Y
1.31
0.64
0.17
1.49
0.47
0.10
Employment,
L
D
-0.28
0.65
1.15
0.11
1.53
1.92
Factor rewards CPI delated
Land
-0.98
1.65
2.56
-0.38
3.70
4.42
Production labour
0.88
0.40
-0.17
1.08
0.34
-0.10
Skilled labour
0.81
0.75
0.41
1.60
1.51
1.23
Capital
0.53
1.33
1.59
-0.10
1.12
1.32
Natural resources
1.00
2.77
4.17
3.03
5.84
6.98
Notes:
a
Variables ixed as exogenous are shown in bold letters. All results in this table are based on the adoption of a iscal policy
wheren government spendng s held constant as a share of GDP and the revenue lost from tarff reform s not made up n other
taxes, so the iscal deicit expands.
b
P
C
s the domestc consumer prce level; the CPI. Note that ths s an ndex of the prces of both home and mported goods.
c
The expected long-run return on captal motvates nvestment n these smulatons. It s exogenous and ts values are from
Table A10.5.
Source:
Model simulations described in the text.
