The US economy from 1992 to 1998: results from a detailed CGE model

Peter Dixon and Maureen Rimmer

Centre of Policy Studies/IMPACT Centre Working Papers from Victoria University, Centre of Policy Studies/IMPACT Centre

Abstract: This 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.

JEL-codes: C68 F14 (search for similar items in EconPapers)
Date: 2004-04
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Citations: View citations in EconPapers (22)

Published in The Economic Record, The Economic Society of Australia, vol. 80(s1) 2004, pages S13-S23, 09.

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Journal Article: The US Economy from 1992 to 1998: Results from a Detailed CGE Model (2004)
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