The US economy from 1992 to 1998: results from a detailed CGE model
AbstractThis paper describes historical and decomposition simulations undertaken for 1992 to 1998 with a 500-sector CGE model of the US. The historical simulation provides estimates of movements in unobservable technology and preference variables. The decomposition simulation explains developments in the US economy in terms of movements in these variables and in observable exogenous variables such as tariffs. Both simulations produce many results. Here we use decomposition results to show that rapid growth in US international trade is explained mainly by technology changes that reduced costs in export-oriented industries and increased inputs of commodities are heavily imported.
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Bibliographic InfoPaper provided by Victoria University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number g-144.
Date of creation: Apr 2004
Date of revision:
Publication status: Published in The Economic Record, The Economic Society of Australia, vol. 80(s1) 2004, pages S13-S23, 09.
Other versions of this item:
- Peter B. Dixon & Maureen T. Rimmer, 2004. "The US Economy from 1992 to 1998: Results from a Detailed CGE Model," The Economic Record, The Economic Society of Australia, vol. 80(s1), pages S13-S23, 09.
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
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