The Michigan Model of World Production and Trade
Theory and Applications
Bibliographic Data
| ID | 9711401 |
|---|---|
| Authors | Leslie Ann Winters (0000-0003-2064-3786), L Alan Winters, Alan V Deardorff (0000-0002-4954-7520), Alan Deardorff, Robert M Stern (0009-0001-1234-1158) |
| Year | 1987 |
| Volume | 97 |
| Issue | 385 |
| Pages | 233 |
| Publication date | 1987-03-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.2307/2233337 |
| OpenAlex | W2095068925 |
| Language | EN |
| Citations received | 8 |
This book presents the work that has been done to date with the Michigan Model of World Production and Trade, together with a full description and discussion of the model itself. Developed and refined for more than a decade, The Michigan Model is distinguished among general equilibrium trade models not only for its coverage (34 countries and 29 industries) but for its allowance for a wider variety of important short-run interactions among markets and a greater variety of policy parameters and institutional details than many other models permit. The model is intended as a practical tool for policymakers analyzing the effects of measures such as tariffs, taxes, and exchange rate changes on a set of highly disaggregated patterns of production, trade, and employment.Following an introductory chapter that discusses the development and use of The Michigan Model, its theoretical structure is introduced and compared to the theoretical structure of other computational models and its implementation is presented in terms of data requirements and parameters, methods of solution, and application to various issues. Six chapters then explore a number of different applications designed to analyze the effects of the Tokyo Round of Multilateral Trade Negotiations and post-Tokyo-Round negotiating alternatives, the effects of tariffs on the structure of protection in the U.S. and other major industrialized countries, the effects of domestic tax/subsidies on the structure of protection in the U.S., the U.K., and Japan, the sectoral impact of real exchange-rate changes, and the effect of trade on employment in major industrial countries. A final chapter draws together the lessons of the efforts for computer modeling of trade and for the direction of future research.Alan V. Deardorff is Professor of Economics at the University of Michigan, Ann Arbor. Robert M. Stern is Professor of Economics and Public Policy, also at Michigan
Economics · Microeconomics · Production (economics · Global trade and economics
Protection, Trade, and Wages
Estimates of the Trade and Welfare Effects of Nafta
Estimating the economic and social impact of conditional cash transfers from the Prospera Program in Mexico
The Effects of Protection on the Factor Content of Japanese and American Foreign Trade
How Effective are Trade Barriers? An Empirical Analysis of Trade Reduction, Diversion, and Compression
Some Economic Effects of Unilateral and Multilateral Reductions in Military Expenditures in the Major Industrialized and Developing Countries
Neighborhood effects of developing country protection
Trade Liberalization and the Theory of Endogenous Protection
| Unique citing works | 8 |
|---|---|
| Citations per year | 0,2 |
| Citation span | 1986 - 2023 (38) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 7 |