A Model of the World Wool Market

George Verikios

No 139293, 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia from Australian Agricultural and Resource Economics Society

Abstract: This paper presents the theoretical and empirical structure of WOOLMOD – a model of the world wool market which treats raw wool and wool products as heterogeneous commodities. The model divides the world wool market into ten geographical regions and production in each region amongst eight major industrial sectors, each representing a different stage of the wool market. The industrial sectors cover the full spectrum of activities from raw wool production to retail garment production. The usefulness of WOOLMOD is demonstrated via an illustrative application: analysing the short-run effects of two to three years worth of total factor productivity growth in the Australian sheep industry – the world’s largest single producer and exporter of raw wool.

Keywords: Industrial Organization; International Relations/Trade; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 45
Date: 2005
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Working Paper: A Model of the World Wool Market (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare05:139293

DOI: 10.22004/ag.econ.139293

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