Table 10: Regional Household Economic Welfare Impacts, in 2001 US$ millions

  Labour & capital
fixed
(i)
Labour flexible, capital fixed (ii) Labour fixed, capital flexible (iii) Labour & capital flexible (iv) Central Scenario (v)
Canada (total) 143 514 280 1,868 586
Allocative efficiency 15 192 57 753 192
Terms of trade 139 129 113 8 90
Endowment 0 203 117 1,103 308
Korea -2 632 321 2,979 201
Allocative efficiency -74 62 -10 545 -32
Terms of trade 87 54 33 -202 70
Endowment 0 525 308 2,611 176
U.S. -130 -118 -104 2 -92
Allocative efficiency -7 -8 -8 -13 -8
Terms of trade -111 -97 -86 28 -73
ROW -121 -95 -70 110 -101
Allocative efficiency -44 -51 -37 -38 -43
Terms of trade -115 -85 -61 166 -86
Total -110 922 427 4,960 594
Allocative efficiency -110 194 3 1,247 110
Terms of trade 0 0 0 0 0
Endowment 0 728 424 3,713 485

Note: Allocative efficiency, terms of trade, and endowment effects do not add exactly to the total. The GTAP welfare calculation also includes a term that reflects the price differentials between saving and investment.