Authors: S. J. Nettleton
Mainstream computable general equilibrium analysis developed out of Lief Johansen's regional economic analysis based on the simultaneous settlement of commodity markets in quantity and price. The work of John von Neumann, Paul Samuelson, Wassily Leontief, Anne Carter, Michael Farrell and Thijs ten Raa has combined in an alternative bottom-up Integrated Assessment Model, which embodies Johansen attributes while exploiting the unique property of models having regions that trade and adjust to evolving natural advantages and environmental constraints through regional industry specialization. Such specialization has recently become a major focus in many nations seeking competitive niche business models in intermediate products and capital goods, which today comprise 70 per cent of the global supply chain. This research demonstrates a non-monetary or policy application of the Doctrine of Balanced Growth operates to equalize consumption growth at the policy nexus of international free-trade agreements and specialization of regional industry segments. Our knowledge of domestic industry policy and international trade policy is advanced by this demonstration that model results conform with a non-monetary Doctrine of Balanced Growth. This study is based on 2007 year data from the Global Trade Analysis Project.
Comments: 32 Pages.
[v1] 2016-05-30 21:40:56
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