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.