The Michigan Model of World Production and Trade

Alan Deardorff and Robert Stern

Chapter 36 in Comparative Advantage, Growth, and the Gains from Trade and Globalization:A Festschrift in Honor of Alan V Deardorff, 2011, pp 451-502 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:Theoretical Structure of the ModelOverview of the ModelEquations of the ModelCountry-system equationsWorld-system equationsSupply and Demand FunctionsThe Armington AssumptionNontariff BarriersImport LicensingRest-of-World Net SupplyDepartures from General EquilibriumEconomic WelfareTheoretical Illustrations of the ModelThe Closure IssueComparison with Other Computational ModelsExperience from the Michigan Model and Implications for ResearchLessons from Computer Modeling of TradeMethodologyThe Armington AssumptionTariff Revenue RedistributionImport LicensingTariffsDirections for Future ResearchNotesReferences

Keywords: Comparative Advantage; Trade And Growth; Globalization; Computational Modeling; Trade Policy Analysis (search for similar items in EconPapers)
Date: 2011
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