Trade Theory in Computable General Equilibrium Models by Pete... - 9789811083235
Springer Verlag, Singapore
Gain a deep understanding of modern trade theory, specifically the Melitz model, and its relationship to earlier Armington and Krugman theories. This book breaks down the Melitz theory from first principles, offering significant conclusions for trade theory specialists. It identifies conditions under which Krugman and Melitz models align with Armington models regarding the welfare effects of trade liberalization, providing crucial insights for academics and policy advisors. For computable general equilibrium (CGE) modelers, the book offers practical guidance on calibrating, solving, and interpreting Melitz-style CGE models. It demonstrates how to convert large-scale Armington models, like GTAP, into Melitz models with minimal alterations. The authors share their computational experience using GEMPACK software for solving Melitz CGE models, highlighting that these computations encountered fewer difficulties compared to previous studies using GAMS software. Key takeaways include: * CGE modelers can integrate Melitz models while retaining their existing Armington-based models for interpretation. * Large-scale CGE models with Melitz specifications can be efficiently solved using GEMPACK. This essential resource is for anyone seeking to understand and apply advanced trade theory in economic modeling. Summary: Trade Theory in Computable General Equilibrium Models, Hardback, English, by Peter B. Dixon, Michael Jerie, Maureen T. Rimmer, ISBN: 9789811083235.
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