Salter Working Paper Number 25
Introducing Imperfect Competition into the SALTER Model by Thomas W. Hertel, is Working Paper number 25 in the development of The SALTER Model of the World Economy.
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Introduction and Motivation
Adjustments to the Data Base
International Transport Services
Global Savings = Investment
Derivation of Behavioral Equations for the Imperfectly Competitive Sectors
Perceived Demand Elasticities
Behavioral Equations in the Perfectly Competitive Sectors
Calibration of Imperfectly Competitive Sectors
The Basic Problem
Unilateral Trade Liberalization in the Australasian Region
Sectoral Support in Initial Equilibrium
Changes is Industry Output
Welfare Effect of Unilateral Trade Liberalization
Multilateral Trade Liberalization
Output Changes Under Perfect Competition
Unilateral and Multilateral Liberalization Compared
Welfare Effects of Multilateral Liberalization
Summary and Implications for the SALTER Project
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