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A World Trade Model Based on Comparative Advantage with m Regions, n Goods, and k Factors

  • Faye Duchin

    ()

    (Department of Economics, Rensselaer Polytechnic Institute, Troy NY 12180-3590, USA)

This paper describes the World Trade Model, a linear program that determines world prices, scarcity rents, and international trade flows based on comparative advantage in a world economy with m regions, n goods, and k factors. Major properties of the model are demonstrated, including the sources of the gains from trade for the world as a whole and for individual regions. Preliminary empirical results are reported for a 10-region, 8-good, 3-factor model of the world economy. The new model generalizes the World Model of Leontief, Carter, and Petri in ways which make it particularly useful for analyzing scenarios about sustainable development.

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File URL: http://www.economics.rpi.edu/workingpapers/rpi0309.pdf
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Paper provided by Rensselaer Polytechnic Institute, Department of Economics in its series Rensselaer Working Papers in Economics with number 0309.

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Date of creation: Nov 2003
Date of revision: Mar 2004
Handle: RePEc:rpi:rpiwpe:0309
Contact details of provider: Web page: http://www.economics.rpi.edu/
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  1. Anders Hammer Str�mman & Faye Duchin, 2006. "A world trade model with bilateral trade based on comparative advantage," Economic Systems Research, Taylor & Francis Journals, vol. 18(3), pages 281-297.
  2. Leontief, Wassily, 1977. "The future of the world economy+," Socio-Economic Planning Sciences, Elsevier, vol. 11(3), pages 171-182.
  3. Duchin, Faye & Lange, Glenn-Marie, 1995. "The choice of technology and associated changes in prices in the U.S. economy," Structural Change and Economic Dynamics, Elsevier, vol. 6(3), pages 335-357, August.
  4. Trefler, Daniel, 1993. "International Factor Price Differences: Leontief Was Right!," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 961-87, December.
  5. Trefler, Daniel, 1995. "The Case of the Missing Trade and Other Mysteries," American Economic Review, American Economic Association, vol. 85(5), pages 1029-46, December.
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