A Model of the World Wool Market
AbstractThis paper presents the theoretical and empirical structure of WOOLMOD – a model of the world wool market which treats raw wool and wool products as heterogeneous commodities. The model divides the world wool market into ten geographical regions and production in each region amongst eight major industrial sectors, each representing a different stage of the wool market. The industrial sectors cover the full spectrum of activities from raw wool production to retail garment production. The usefulness of WOOLMOD is demonstrated via an illustrative application: analysing the short-run effects of two to three years worth of total factor productivity growth in the Australian sheep industry – the world’s largest single producer and exporter of raw wool.
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Bibliographic InfoPaper provided by Australian Agricultural and Resource Economics Society in its series 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia with number 139293.
Date of creation: 2005
Date of revision:
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raw wool; wool products; modelling the world wool market; wool processing; Industrial Organization; International Relations/Trade; Livestock Production/Industries; F11; L70; Q13;
Other versions of this item:
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- L70 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - General
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
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