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A Spatial Price Equilibrium Model of International Trade

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  • D. Lee Bawden

Abstract

An interregional equilibrium model developed by Takayama and Judge is reformulated to represent international trading. Their model, a spatial, partial equilibrium formulation, allows for interaction among both countries and commodities under the assumptions of free trade and a perfectly competitive market. In the present article, this basic competitive model is extended to incorporate some common trade and domestic policies which alter the free trade assumption. The usefulness of such a model for trade policy analysis is demonstrated by means of hypothetical data. Spatial models of this type, in which commodities are interrelated in both demand and supply, are shown to have considerable potential for empirical research in the field of international trade.

Suggested Citation

  • D. Lee Bawden, 1966. "A Spatial Price Equilibrium Model of International Trade," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(4_Part_I), pages 862-874.
    • Handle: RePEc:oup:ajagec:v:48:y:1966:i:4_part_i:p:862-874.
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    File URL: http://hdl.handle.net/10.2307/1236618
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    Citations

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    Cited by:

    1. Gallagher, Paul W. & Shapouri, Hosein & Price, Jeffrey, 2006. "Welfare maximization, pricing, and allocation with a product performance or environmental quality standard: Illustration for the gasoline and additives market," ISU General Staff Papers 200606010700001452, Iowa State University, Department of Economics.
    2. Johnson, D. Gale, 1977. "Postwar Policies Relating to Trade in Agricultural Products," A Survey of Agricultural Economics Literature, Volume 1: Traditional Fields of Agricultural Economics 1940s to 1970s,, Agricultural and Applied Economics Association.
    3. Bates, Thomas H. & Schmitz, Andrew, 1969. "A Spatial Equilibrium Analysis of the World Sugar Economy," Monographs, University of California, Davis, Giannini Foundation, number 251920, December.
    4. Gallagher, Paul W. & Shapouri, Hosein & Price, Jeffrey, 2003. "Welfare Maximization, Product Pricing, and Market Allocation in the Gasoline and Additives Market," Staff General Research Papers Archive 10675, Iowa State University, Department of Economics.
    5. Jaouad, Mohamed, 1994. "An agricultural policy and trade model for Morocco," ISU General Staff Papers 1994010108000011483, Iowa State University, Department of Economics.
    6. Zusman, Pinhas & Melamed, Abraham & Katzir, Itzhak, 1969. "Possible Trade and Welfare Effects of EEC Tariff and "Reference Price" Policy on the European-Mediterranean Market for Winter Oranges," Monographs, University of California, Davis, Giannini Foundation, number 251952, December.
    7. Gallagher, Paul W. & Shapouri, Hosein & Price, Jeffrey, 2006. "Welfare maximization, pricing, and allocation with a product performance or environmental quality standard: Illustration for the gasoline and additives market," International Journal of Production Economics, Elsevier, vol. 101(2), pages 230-245, June.
    8. Johnson, D. Gale, 1977. "PART IV. Postwar Policies Relating to Trade in Agricultural Products," AAEA Monographs, Agricultural and Applied Economics Association, number 337216.

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