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Modelling the Effects on Australia of Interventions in World Agricultural Trade

Author

Listed:
  • Mark Horridge
  • David Pearce

Abstract

In this paper we desribe a general equilibrium model of the world economy, designed to simulate the effect of a liberalization of world food trade. Our model owes much to Tyers (1985) partial equilibrium model which covered trade between 30 countries in 7 agricultural commodities. It also displays several important differences. First, ours is a general equilibrium model. We argue that the general equilibrium approach makes key assumptions explicit, and can be used to restrict uncertain parameter values. Second, we have adopted a comparative static framework, and have expressed our equations in percentage change form. Third, we have updated and revised most of the data used by Tyers. Last, our methodology allows us to include the ORANI model of the Australian economy as an integral part of the world model. This allows a detailed picture of the effects of world food trade liberalization on Australia. At the same time the ORANI results are completely consistent with those yielded by the world model. Please note: The PDF download of this fairly old paper is an optical scan.

Suggested Citation

  • Mark Horridge & David Pearce, 1988. "Modelling the Effects on Australia of Interventions in World Agricultural Trade," Centre of Policy Studies/IMPACT Centre Working Papers op-65, Victoria University, Centre of Policy Studies/IMPACT Centre.
  • Handle: RePEc:cop:wpaper:op-65
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    References listed on IDEAS

    as
    1. Horridge, Mark & Pearce, David & Walker, Agnes, 1990. "World Agricultural Trade Reform: Implications for Australia," The Economic Record, The Economic Society of Australia, vol. 66(194), pages 235-248, September.
    2. Trela, Irene & Whalley, John & Wigle, Randall, 1987. " International Trade in Grains: Domestic Policies and Trade Impacts," Scandinavian Journal of Economics, Wiley Blackwell, vol. 89(3), pages 271-283.
    3. Tyers, Rodney, 1985. "International Impacts of protection: model structure and results for FC agricultural policy," Journal of Policy Modeling, Elsevier, vol. 7(2), pages 219-251.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tyers, Rodney, 1990. "Searching Under The Light: The Neglect Of General Equilibrium, Dynamics And Risk In The Analysis Of Food Trade Reforms," Staff Papers 13845, University of Minnesota, Department of Applied Economics.

    More about this item

    Keywords

    world food trade; comparative-static simulation; computable general equilibrium model; model linking;

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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