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This paper provides complete documentation for version 7 of the 'standard' Global Trade Analysis Project (GTAP) model. This is the first comprehensive documentation of the model since the 1997 'GTAP book' and this updated version includes some important new features. On a substantive level, commodities and activities are separated, allowing for multi-product sectors, as well as multiple sectors producing the same commodity. Additional flexibility is provided for modeling of production and consumption behavior, and the valuation and naming conventions have been modified. In addition, this paper folds in important advances since the 1997 publication, including the revised treatment of non-homotheticity in final demand, the welfare decomposition and multi-modal international transportation. The paper opens with an overview which puts this widely used model in broader context. The model exposition is comprehensive and includes a bridging table linking the original, 'classic' model with the current version. This is followed by a section discussing the major extensions of the standard model and how they are being used. The paper closes with an overall assessment and a discussion of future research directions.JEL codes: C68, D58, D60, F1

Bank in Vietnam. For their valuable inputs to our work, we thank Nguyen The Dung (the World Bank), and members of the project research consortium, especially Dao The Anh (Centre for Agrarian System Research and Development), Nguyen Ngoc Que and Do Anh Phong (Institute of Policy and Strategy for Agricultural and Rural Development), Vo Thi Thanh Loc, Le Canh Dung and their teams at the Mekong Development Institute. We thank Michael Jerie (Centre of Policy Studies) for helpful comments on the paper.

As part of its global obligations to responding to climate change, the Philippines is committed to limiting future emissions growth through policy interventions such as funding research on mitigation and direct regulation of energy efficiency requirements. The Philippines is also interested in extensions of such policies, including the use of carbon taxes, measures to enhance energy efficiency, and changes to the country's electricity generation mix. This paper develops a computable general equilibrium (CGE) model of the Philippine economy to analyse the effects of such climate change policy options in the period to 2020. The modelling results indicate that given the current level of development in the Philippine electricity generation and transport sectors, even relatively modest measures have marked impacts on emissions with marginal economic impacts. A carbon tax of $US5 per a tonne, results in a 9.8% reduction in emissions and a 0.5% reduction in GDP from baseline levels to 2020. Similarly, a 2% increase in energy efficiency throughout the Philippine economy results in an 8.5% reduction in emissions and 0.6% reduction in GDP compared to the underlying baseline of no policy response. Finally, a 10% shift in the coal-fired generation capacity results in an 11.0% reduction in emissions with GDP in fact increasing by 1.9% over baseline levels.

The paper examines the possible impact of Doha agreement on Philippine poverty. Using a detailed CGE analysis, the agreement is observed to depress world demand for Philippine agricultural exports, and thus slightly increase poverty, especially among rural households. However, an ambitious full trade liberalization scenario, which involves free world trade and domestic liberalization, leads to increased industrial exports that favor urban households. These impacts are driven primarily by domestic trade liberalization, as free world trade favors the agricultural sector by increasing the cost of competing agricultural imports.

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