Extracting Data from WITS to feed SMART
Here you will learn to set up the SMART simulation data.
You need to select the following:
- A Country, Reporter country that is going to change its tariffs. SMART is single country simulation tool. A simulation involving several countries cutting their tariffs at the same time (regional trade agreement for example) may require several separate SMART simulations (one for each market/importer) depending on what is to be analyzed.
- A Year for the tariff and imports data to be used since the simulation needs a starting point in order to interpolate the consequences of the tariff reform. When available, SMART uses the same year for both tariffs and trade data. Otherwise, SMART goes for the best alternative (closest year or inverted trade). Year drop down will be populated based on the
Country selection.
- Products involved in the simulation, i.e. in the tariff reform. Including other products in the dataset is generally useless since there is nothing to simulate in terms of impact for products which tariffs are not modified. Moreover, the larger the number of selected products, the bigger the file to be manipulated.
- Scenario select an existing scenario or create a new scenario. For more details refer to
SMART Defining a Scenario
- Elasticity
- By default Import Demand Elasticity
is System Defined, new feature of Other user defined import elasticity will be
available at a later date.
- Substitiution Elasticity by default is 1.5,
you can modify this value and set it to a value relevant to your simulation
- Supply Elasticity by default is 99, you can
modify this value and set it to a value relevant to your simulation
- Apply Tariff on is by default Applied MFN Rate
you have to change it Bound if you are doing Bound tariff simulation.
Next:
Defining Custom Elasticities
WITS Online Help
The World Bank, 2010