*I appreciate data collaboration of Graham Siddorn in the Inldand Revenue and supervision by Professor John Whalley
*and suggestions from Carlo Perroni in process of construction of this model.
$title  16 sector model of uk Sept98

$include ptax.gms

SET
	HH      Households and labor categories  /
		H1      Household 1         /
      FD final demand /Cons
		       GGFC 
		       GDFCF 
		       Stocks 
		       Exports/;
	
ALIAS (HH,lc);


TABLE IOF(K,KK) Input-output flows 1995
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House	
Agric	1873	0	13	26	9	5	10878	403	0	5	463	47	13	0	134	0	
Extra	0	2438	0	4702	3	0	0	0	3620	0	0	0	0	0	0	0	
Minin	22	0	358	233	901	29	46	133	1803	430	113	19	9	0	62	0	
Chemi	1413	7	89	5184	607	652	678	2582	1003	626	1885	2475	1304	0	2755	22	
Metal	127	151	204	1232	7185	6101	1799	5021	43	7150	507	397	0	0	117	0	
Engin	0	540	301	660	1217	6186	496	2443	650	750	827	1786	1019	0	1573	31	
food	2808	52	24	378	79	115	6515	344	62	53	6700	681	1098	0	1837	4	
othma	618	80	134	1849	1889	3031	2852	16140	482	4169	6766	4152	8406	0	3466	267	
Power	290	0	167	1378	1649	1231	962	2055	12740	279	1245	891	1229	0	730	24	
Const	185	0	125	128	33	59	0	34	0	21332	625	156	2035	0	170	4013	
Distr	1210	279	228	2491	2662	4073	1678	4644	650	1448	4418	2861	2422	0	1297	0	
Trans	254	677	326	1222	1992	1375	1555	3520	163	856	14517	15214	16635	0	3125	193	
Finan	1976	670	472	4080	2786	6202	4240	9220	1886	10370	22545	12466	50647	0	13484	15191	
Pubad	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	
Educa	374	1	41	515	250	573	491	2585	177	236	990	1353	3976	0	7648	66	
House	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	
;

TABLE IOFM(K,KK) Input-output import matrix 
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House
Agric	493	0	0	2	0	0	2465	448	0	0	571	10	0	0	0	0
Extra	0	147	0	1749	0	0	0	0	1629	0	0	0	0	0	0	0
Minin	0	0	79	454	632	36	6	62	315	640	0	0	0	0	0	0
Chemi	596	5	143	5874	723	727	639	4772	510	111	191	902	50	0	261	0
Metal	42	184	65	341	5364	2150	426	1885	0	1776	72	0	0	0	0	0
Engin	58	164	62	68	283	12397	27	2346	855	758	50	881	167	0	169	0
food	248	0	0	246	0	0	3892	36	0	0	784	46	0	0	0	0
othma	8	0	84	517	521	399	641	19306	18	1887	1308	703	123	0	496	0
Power	0	0	0	4	4	1	2	4	449	0	0	0	0	0	0	0
Const	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Distr	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trans	0	464	11	7	13	0	19	7	0	3	505	2592	667	0	75	1
Finan	5	1	4	19	13	26	18	0	3	7	18	19	2863	0	503	19
Pubad	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Educa	0	0	0	1	2	7	2	49	1	0	3	35	78	0	1413	0
House	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
;


Table asset(j,K) categories of capital asset in the year 1995
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House
Build 	15672 	50 	1125 	11284 	13381 	15646 	13528 	24558 	54403 	3955 	76826 	50835 	107812 	49959 	91925 	0 
pmlon	0 	2968 	0 	6703 	2621 	744 	918 	6088 	42115 	283 	6381 	21945 	968 	1778 	0 	0 
pmsho	2993 	20032 	1867 	17351 	18766 	18647 	13721 	34374 	2399 	2549 	23430 	13894 	31251 	7519 	10204 	0 
vehic	1122 	283 	71 	490 	699 	1062 	662 	1568 	501 	1715 	6448 	15425 	18478 	1055 	946 	0 
dwell	0 	0 	0 	0 	0 	0 	0 	0 	0 	0 	0 	0 	0 	0 	0 	709731 
;


TABLE ZZ(*,K) MISCELLANEOUS PARAMETERS AND INITIAL DATA
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House
Kstock	19788 	23333 	3063 	35827 	35466 	36099 	28829 	66588 	99419 	8502 	113086 	102099 	158508 	60311 	103075 	709731 
XD	21332	17704	5493	60422	49477	73626	65569	125952	43198	84377	163387	96287	211047	63843	112717	52199
INTD	11151	4896	2481	24078	21262	29631	32190	49123	23279	47704	61601	42498	88793	0	36399	19810
INTDM	1448	965	447	9281	7554	15744	8137	28916	3780	5181	3501	5189	3948	0	2917	19
TFIND	5691	0	335	16179	8918	5367	33615	30469	18267	55482	115545	22500	41991	63843	88987	52199
TMFD	1508	0	36	6591	235	34729	9948	34797	0	0	0	4376	629	441	1627	440
EXPORT	1771	6941	1002	22959	10525	49782	11201	41183	62	0	17482	12163	12820	0	4455	0
REEXPT	41	0	2008	94	0	154	15	94	0	0	0	0	0	0	0	0
lb	7168	1477	1887	10152	15478	19227	10452	37124	5708	30785	64404	35945	68821	60316	65577	0
ka	3819	10360	706	8116	5062	8798	5925	10358	8894	749	24872	14736	45357	3527	5653	32499
p0      1       1       1       1       1       1       1       1	1       1       1       1       1       1       1       1
;

Table DF(*, k) domestic sales to final demand
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House
Cons	5652	0	289	12728	264	0	33045	16348	16902	3602	113651	19203	25276	0	43321	52199
GGFC	39	0	45	3192	526	1606	421	3817	1365	4542	1894	2582	8449	63843	45666	0
GDFCF	0	0	0	0	7336	3416	0	9118	0	47039	0	714	8265	0	0	0
Stocks	0	0	0	259	792	345	149	1185	0	298	0	0	0	0	0	0
Exports	1771	6941	1002	22959	10525	49782	11201	41183	62	0	17482	12163	12820	0	4455	0
;																
																
Table MF(*, k) imports to final demand											
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House
Cons	1508	0	31	5764	0	6134	9638	25165	0	0	0	4033	0	0	995	440
GGFC	0	0	4	697	0	3467	296	3187	0	0	0	343	629	441	632	0
GDFCF	0	0	0	0	0	24967	0	5444	0	0	0	0	0	0	0	0
Stocks	0	0	0	130	235	160	14	1002	0	0	0	0	0	0	0	0
Exports	41	0	2008	94	0	154	15	94	0	0	0	0	0	0	0	0
;


Table VATT(*, k) value added tax on final demand											
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House
vatc	113	0	40	2839	266	1999	7277	10928	964	479	5046	1928	250	0	3345	0
vatg	3	0	16	324	250	1577	25	1351	301	1264	0	448	998	0	255	0
vatk	0	0	0	0	279	1381	0	895	0	1155	0	1	22	0	0	0
;

Table tariff(*,k)  tariff on intermediate demand and prodution tax  											
	Agric	Extra	Minin	Chemi	Metal	Engin	food	othma	Power	Const	Distr	Trans	Finan	Pubad	Educa	House
tarif	77	6	5	166	100	210	846	396	50	67	188	38	2	0	9	0
totarif	139	89	107	558	316	1338	383	1532	12	0	0	220	104	11	81	11
indtx	-2331	0	-34	8629	21	16	8019	35	1487	-108	8821	-2118	4126	0	2164	-131
;

Table Taffd(*,fd) VAT and tariff on final consu			
	Cons	GGFC	GDFCF	Stocks	Exports
ftarif	2133	139	139	23	37
vatfd	37508	6979	4455	0	0
;


*Check for data 

parameter chk, chkk, chintd, chinm, chtaxr, chtarr;

	chk = sum(k, zz("lb",k));
	chkk = sum(k, zz("ka",k));
	chtaxr = sum(k, tariff("indtx",k));
	chtarr = sum(k, tariff("tarif",k));
	chintd(k)= sum(kk, iof(k,kk));
	chinm(k) = sum(kk, iofm(k,kk));

display chk, chkk, chintd,chinm,chtaxr, chtarr;

Table income(*,hh) Sources of Income to the households
	h1                
wage 434521
intr 189431
;



Parameter
	tar(k)  	tariff in inputs
	vatc(k) 	value added tax in consumption
	vatk(k)  	value added tax in capital
	vatg(k)  	value added tax in public cons
	prot(k)		production tax
	tarf  		tariff in final demand
	prt(k)          production tax rate
	prt0(k)		production tax rate
	tarint		tariff on intermediate input
	tarint0		tariff on intermediate input
        tarfrt   	tariff on final demand
	tarfrt0  	tariff on final demand
	intdm    	import for intermediate inputs
;

	tar(k)  =	tariff("tarif",k);
	vatc(k)  =	vatt("vatc",k);
	vatk(k)  =	vatt("vatk",k);
	vatg(k)  =	vatt("vatg",k);
	prot(k)	=	tariff("indtx",k);
        tarf(k) =	tariff("totarif",k);

display tar, vatc,vatk,vatg, tarf;

Parameter
		tid0   		Total investment
		id0(k) 		domestic suplly of investment
		id0m(k)		foreign supply of investment
		stock(k) 	change in stocks -domesti
		stockm(k) 	change in stock - import
		G0(k)    	government consumption -domestic
		gm0(k)          government consumption -import
		cc0(k)          consuption demand by households -domestic
		ccm0(k)  	consumption by households -imports
		m0(k)  		total imports
		dd0(k) 		total domestic demands
		cch0(hh,k) 	household demand for domestic goods
 		cchm0(hh,k) 	household demand for imported goods
		expt(k)		exports
		rexp(k)		imports re-exported
		expe(hh,k)	export earning to households
		expem(hh,k)	re-export earning to households
;


parameter
		c0(hh)          consumption of goods and leisure 
		cap0(j,k)	capital stock type asset j for sector k
		d0(hh,k)        households' final demand -domestic
		d0m(hh,k)       households' final demand -imports
		grev            government revenue 
		hit(hh)         labour income tax
		hit0(hh)        base year labour income tax rate
		incbal(*)       budget balance check
		intr(j,hh)      gross capital income to households
		iof(kk,k)       domestic intermediate demand
		kt0(k)		aggregate capital income from sector k
		k0(j,k)         capital income from asset j in sector k  
		kj0(j)          total of type j assets in the base year 
		l0(k)           labour income from sector K
		leisure(hh)     leisure demand (value net of income tax)
		mcf             marginal cost of public funds
		mkt(*)          market cleance check for the base year
		nettrn(hh)      net income transfer to households
		netwage(hh)     wage income (net of income tax)
		wages(hh)       wage income (gross of income tax)
		p0(k)           consumer prices (gross of vat)
		pindex          price index for marginal calculations
		prf(kk)         zero profit condition
		rk0(j,k)        base year return to capital (gross of tax)
		tk(j,k)         capital tax rate by assets per sector: P-tax rates
		tk0(j,k)        base year capital tax rate
		vt(k)           value-added tax rate
		vtc(k)     	value-added tax rate on consumption
		vtk(k)     	value-added tax rate on investment
		vtg(k)     	value-added tax rate on government consumption
		vtc0(k)     	base year value-added tax rate on consumption
		vtk0(k)     	base year value-added tax rate on investment
		vtg0(k)     	base year value-added tax rate on government consumption
		vt0(k)          base year value-added tax rate
		y0(k)           sectoral output (gross of tax)
		KSTOCK          CAPITAL STOCK
		gsize		government size
		tbal 		trade balance condition
 		labtax 		labour income tax 
		gsav 		government saving
 		gsavh 
		vatrev 		revenue from value added tax
                tkk;


*       Extract some data:

*       capital tax rates from Ptax:

		tk(j,k) 		= trafo(j,k);
		tk("dwell",k)		= 0;
		tk("dwell","house")	= trafo("dwell","house");
		cap0(j,k) 		= asset(j,k);
		kt0(k) 			= zz("ka",k);

*for model without capital income taxes

parameter       tkk00;

                tkk00(j,k)              = tk(j,k);
		tk(j,k) 		=0;

** Split value added from capital by value of assets in the base year 1995

		k0(j,k)  		= zz("ka",k)*(cap0(j,k)/sum(jj,cap0(jj,K)));
		tkk(k)  = sum(j, tkk00(j,k)*k0(j,k))/sum(jj, k0(jj,k));

** allocation of capital income among assets accounting for different depreciation rates
** Asset with lower depreciation rate live longer and therefore, given less weight while
** decomposing value added from capital into different assets.
 
	k0(j,k) 	= zz("ka",k)*(pafo(j,k)+dep(j,k))*(cap0(j,k)/sum(jj,(pafo(j,k)+dep(j,k))*cap0(jj,K)));
*	*kt0(k) 	= sum(j,k0(j,k)-tk(j,k)*k0(j,k));
	kt0(k) 		= sum(j,k0(j,k));
	kj0(j) 		= sum(k,k0(j,k));
*	*k0(j,k)   	= k0(j,k)-tk(j,k)*k0(j,k);
	L0(k)   	= zz("lb",k);
	KSTOCK(k)   	= zz("KSTOCK",k);

parameter ptaxr(k);

	ptaxr(k) 	= sum(j,tk(j,k)*(k0(j,k)/(1-tk(j,k))));

display kt0, l0, ptaxr, k0,KSTOCK;


*the patax rate in capital stock would increase gross of tax output
*the elements of final demand are retrieved below

	y0(k)   	= 	zz("xd",k);
	id0(k) 		= 	DF("GDFCF", k);
	id0m(k) 	= 	MF("GDFCF", k);
	stock(k)	= 	DF("stocks", k);
	stockm(k)	= 	MF("stocks", k);
	g0(k) 		= 	DF("GGFC", k);
	gm0(k) 		= 	MF("GGFC", k);
	cc0(k)		= 	DF("cons", k);
	ccm0(k) 	= 	MF("cons", k);
	expt(k) 	= 	DF("exports",k);
	rexp(k) 	= 	MF("exports",k);
	expe(hh,k) 	= 	(1/card(hh))*expt(k);
	expem(hh,k) 	= 	(1/card(hh))*rexp(k);

alias (kk,kkk), (kkk,kkkk);


*total imports

	m0(k) 			= sum(kk, iofm(K,kk))+id0m(k)+ ccm0(k)+gm0(k)+stockm(k);
	intdm(k) 		= zz("intdm",k);
	tarint(k)$intdm(k) 	= (tar(k)/intdm(k));
	tarint0(k)$intdm(k) 	= tarint(k); 
	tarfrt(k)$m0(k) 	= tarf(k)/m0(k);
	tarfrt0(k)$m0(k) 	= tarfrt(k);

display tarfrt,tarint;

*total domestic demand
	dd0(k) 			= sum(kk, iof(k,kk))+id0(k)+ cc0(k)+g0(k)+stock(k);
	cch0(hh,k) 		= cc0(k);
	cchm0(hh,k) 		= ccm0(k);

*total investment

	tid0 			= sum(k,id0(k)+id0m(k)+stock(k)+stockm(k));

display id0, id0m, cc0,dd0,m0;

*tax rates (I assume tariff in input also as production tax)


	prt(k)			 = (prot(k))/y0(k);
*total final demand for domestic and imported products

	d0(hh,k) 		= y0(k)- sum(kk,iof(k,Kk))-ZZ("export",k);
	d0m(hh,k) 		= m0(k)- sum(kk,iofm(k,Kk))-ZZ("reexpt",k);


display k0,kt0, l0, cap0, d0, d0m;

*gross of capital tax price of assets in the benchmark

	rk0(j,k) 		= 1/(1-tk(j,k));

display tk, rk0;

*gross of tax wage and gross of tax captal income for households
 
	wages(hh) 		= sum(k,l0(k));
	intr(j,hh) 		= sum(k, k0(j,k)/(1-tk(j,k)));


display l0, wages, intr;

parameters p0c, p0k, p0g;

*Impose VAT on consumption,investment and goverment consumption


	vtc(k)$cc0(k) 	= VATT("vatc",k)/(cc0(k)+ccm0(k));
	vtg(k)$g0(k) 	= VATT("vatg",k)/(g0(k)+gm0(k));
	vtk(k)$id0(k) 	= VATT("vatk",k)/(id0(k)+id0m(k));
	vtc0(k)$cc0(k)	= vtc(k);
	vtg0(k)$g0(k) 	= vtg(k);
	vtk0(k)$id0(k) 	= vtk(k);
	vt(k) 		= 0;
	vt0(k) 		= vt(k);
	p0(k) 		= 1 + vt0(k);
	p0c(k) 		= 1+ vtc0(k);
	p0g(k) 		= 1+ vtg0(k);
	p0k(k) 		= 1+ vtk0(k);

display tk, vtc,vtg,vtk, prt,tarfrt;


*  Impose a marginal income tax on labour income according to data:

	hit(hh)		= 0.244;
	netwage(hh) 	= (1-hit(hh)) * wages(hh);

*       Assume that 3/4 as much time is spent on leisure and 
*       home production for all households:

	leisure(hh) 	= (3/4) * netwage(hh);

*       The value of aggregate (extended) consumption:

	p0(k) 		= 1+vtc(k);
	c0(hh) 		= sum(k, cch0(hh,k)*p0(k)+ cchm0(hh,k)*p0(k)) + leisure(hh);

*check the trade balance condition

	tbal 		= sum(k,m0(k)+rexp(k))-sum(k, expt(k)+rexp(k));

display tbal;


*       Government tax revenue:


grev = sum(hh, hit(hh)*wages(hh))
*	+sum((j,k),tk(j,k)*(k0(j,k)/(1-tk(j,k))))
	+tbal
     	+sum((k,hh), (cch0(hh,k)*p0c(k)+cchm0(hh,k)*p0c(k))*(vtc0(k)))
         +sum(k,((id0(k)+stock(k)+id0m(k)+stockm(k))*p0k(k))*vtk0(k))
	+sum(k,((g0(k)+gm0(k))*vtg0(k))*p0g(k))
         +sum(k, y0(k)*prt(k))
	+sum(k,tarfrt(k)*m0(k))
         ;

Parameter 
	rev1 household income tax
	rev2 capital income tax
	rev3 vat in private cons
	rev4 vat in investment 
	rev5 vat in govt cons
	rev6 production taxes
	rev7 tariff rates;

	rev1 = sum(hh, hit(hh)*wages(hh))/grev;
	rev2 = sum((j,k),tk(j,k)*(k0(j,k)/(1-tk(j,k))))/grev;
	rev3 = sum((k,hh), (cch0(hh,k)*p0c(k)+cchm0(hh,k)*p0c(k))*(vtc0(k)))/grev;
	rev4 = sum(k,((id0(k)+stock(k)+id0m(k)+stockm(k))*p0k(k))*vtk0(k)) /grev;
	rev5 = sum(k,((g0(k)+gm0(k))*vtg0(k))*p0g(k))/grev;
	rev6 = sum(k, y0(k)*prt(k))/grev;
	rev7 = sum(k,tarfrt(k)*m0(k))/grev;
;


display grev;
display rev1,rev2,rev3,rev4, rev5,rev6, rev7;


*       Zero profit:

	prf(k) = y0(k) - sum(kk, iof(kk,k)) - sum(kk, iofm(kk,k))- l0(k) - sum(j,k0(j,k)/(1-tk(j,k)))-tar(k)-prot(k);
	prf(k) = y0(k) - sum(kk, iof(kk,k)) - sum(kk, iofm(kk,k))- l0(k) - kt0(k)-tar(k)-prot(k);


display prf;

*       Market clearance:

	mkt(k) 		= y0(k) - sum(kk,iof(k,kk)) - cc0(k)-g0(k)-id0(k)-stock(k)-expt(k);
	mkt("l") 	= sum(hh, wages(hh)) - sum(k, l0(k));
	mkt("k") 	= sum((j,k), k0(j,k)/(1-tk(j,k))) - sum((j,hh),intr(j,hh));
	mkt("k") 	= sum(k,kt0(k)) - sum((j,hh),intr(j,hh));

display mkt;

*       Assuming that the data satisfy zero profit and market 
*       clearance, use net transfers to balance income accounts:

parameter tvald  total value added;

	tvald(hh) 	= (sum(j,intr(j,hh)))+wages(hh);


display tvald;


parameter 
	gbal       	government budget balance
        grinv	    	gross investment
        pub         	public expenditure
        netintr(hh)  	net interest income
	saving       	savings
	incadj(hh)   	income adjustment term
;   


parameter ntrnrt;
	pub   		= sum(k,(g0(k)+gm0(k))*p0g(k));
	gbal    	= grev -pub;
	grinv(hh)	= 1/card(hh)*(sum(k,(id0(k)+id0m(k)+stock(k)+stockm(k))*p0k(k)));
	nettrn(hh) 	= sum(j,intr(j,hh))+(netwage(hh)+leisure(hh))-c0(hh)-sum((j,k),tk(j,k)*(k0(j,k)/(1-tk(j,k))));
	nettrn(hh) 	= sum(j,intr(j,hh))+(netwage(hh)+leisure(hh))-c0(hh);
	labtax(hh) 	= hit(hh)*wages(hh);
	saving(hh) 	= nettrn(hh)+gbal; 
	incadj(hh) 	= saving(hh)-grinv(hh);
	ntrnrt(hh) 	= nettrn(hh)/(sum(j,intr(j,hh))+(netwage(hh)+leisure(hh)));

	hit0(hh) 	= hit(hh);
	tk0(j,k) 	= tk(j,k);
	prt0(k)  	= prt(k);


*elasticities of the model

TABLE elast(K,*) elasticities in central case
	SIGMAV	SIGMAK	SIGMAC	ETRAN
Agric	1.214	1.214	1.214	1.214
Extra	1.654	1.654	1.654	1.654
Minin	1.500	1.500	1.500	1.500
Chemi	1.654	1.654	1.654	1.654
Metal	1.612	1.612	1.612	1.612
Engin	1.500	1.500	1.500	1.500
food	1.000	1.000	1.000	1.000
othma	0.900	0.900	0.900	0.900
Power	1.500	1.500	1.500	1.500
Const	1.000	1.000	1.000	1.000
Distr	1.600	1.600	1.600	1.600
Trans	1.600	1.600	1.600	1.600
Finan	1.600	1.600	1.600	1.600
Pubad	1.600	1.600	1.600	1.600
Educa	1.600	1.600	1.600	1.600
House	1.000	1.000	1.000	1.000
;

Parameters
	etran		transformation elsticity
	sigmav          subt. elasticity -labour and composite capital
 	sigmak 		substitution elasticity among assets
	sigmac		subt elasticity in consumption
	sigmau          sub elasticity- consumption and leisure
	sigmal          labour supply elasticity

	etran0
	sigmav0
	sigmak0
	sigmac0
	sigmau0
	sigmal0;

	sigmav(k) 	=	elast(k,"sigmav");
	sigmak(k) 	=	elast(k,"sigmak");
	sigmac(k) 	=	elast(k,"sigmac");
	sigmau(hh) 	=	1.5;
	sigmal(hh) 	=	1.5;
	etran(k) 	=	elast(k,"etran");

	etran0(k)	=	etran(k); 
	sigmav0(k)	=  	sigmav(k);  
	sigmak0(k)	=  	sigmak(k); 
	sigmac0(k)	=  	sigmac(k); 
	sigmau0(hh)	=  	sigmau(hh);
	sigmal0(hh)	=  	sigmal(hh);

	sigmav(k) 	=	1/1.5*sigmav0(k);
	sigmak(k) 	=	1/1.5*sigmak0(k);
	sigmac(k) 	=	1/1.5*sigmac0(k);
	sigmau(hh) 	=	0.35*sigmau0(hh);
	sigmal(hh) 	=	0.35*sigmal0(hh);
	etran(k) 	= 	2.5*etran0(k);

	sigmav(k) 	=	1/1.5*sigmav0(k);
	sigmak(k) 	=	1/1.5*sigmak0(k);
	sigmac(k) 	=	1/1.5*sigmac0(k);
	sigmau(hh) 	=	0.5;
	sigmal(hh) 	=	0.5;
	etran(k) 	= 	2.5*etran0(k);

display grev, pub, gbal,saving,grinv, nettrn, incadj,ntrnrt;

display tk, sigmav0;