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Apart from the computational time and expenses of the CGE model, the discussion of elasticity parameter estimation and various closure rules as well as the difficulty of combining the results with other analysis approaches always poses obstacles ahead of us, therefore we are motivated to apply the Bayesian...
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Policy analysis, the scientific evaluation of policy impact, must include both the technical transformation and political decision process. This analysis is plagued by limited data that leads to model uncertainty. Not only the derived models are uncertain, but also political decision-makers have to...