Then, we provide a short summary of the CREAP (Canadian Regional Economic Analysis Project) benchmark-equilibrium data set and its companion numerical model BMRT.
This section gives a short summary of the basic framework of the CREAP benchmark data set and its companion BMRT numerical model (see Nguyen et al (2007a, b) for details).
The BMRT model is a static provincial CGE model of Canada.
To focus on issues of trade and border delays, we need to make some modifications to both the original CREAP data and BMRT model outlined in the previous section.
The BMRT model essentially assumes a small open economy taking world prices for exports and imports as exogenously given.