Modular Applied General Equilibrium Tool (MAGNET)
Modular Applied General Equilibrium Tool (MAGNET) is a global general equilibrium model. It has been widely used to simulate the impacts of agricultural, trade, land, and bioenergy policies on the global economy with a particular focus on the impacts on land use, agricultural prices, nutrition, and household food security.
A distinguishing feature of the model is its modular design. Modularity allows modellers to tailor the model structure to fit the research question at hand. MAGNET is based on the LEITAP model, which has been used extensively in policy analyses. MAGNET offers more flexibility in model aggregation (definition of regions and sectors) and more options for changing a model’s structure.
The main purpose of MAGNET is to provide a globally applied general equilibrium modelling framework. With the standard GTAP model as the core around which MAGNET was developed, use of MAGNET requires, at a minimum, an understanding of the standard GTAP model and the ability to read GEMPACK code.
Key questions addressed:
- How does biofuel production affect economic outputs, trade, and land use of a country?
- How does a land-use policy (e.g., production quota or limits on milk and sugar production) impact labor, capital, and land markets?
Sample data inputs:
- Economic (GDP, capital flows, household data), energy, agricultural, and land use data.
Sample quantitative outputs:
- Greenhouse gas emissions
- Loss of biodiversity
Project reports using MAGNET