WorldScan; the core version.

We present an overview of the model, the data, and applications. We begin by discussing the main mechanisms of WorldScan and its theoretical foundations and properties. Characteristic elements of the model are an Armington trade specification, combined with Heckscher-Ohlin mechanisms in the long run, converging consumption patterns, a low-productivity sector in developing regions, from which the high-productivity economy may draw labour, and a division between low- and high-skilled labour. We further present our calibration procedure and our data needed for calibration. Then, we show the projections of exogenous trends that are necessary for the construction of scenarios. The mechanisms of the model are illustrated by presenting simulation results of a globalization scenario. The applications demonstrate that WorldScan can be used to construct scenarios for all kinds of studies, to analyse events like ageing and globalization, and to analyse trade policies and climate policies.