An inter-temporal general equilibrium econometric model is developed for the Australian economy and used to simulate a trade policy. The model treats the prices of non-traded goods as endogenous and takes account of the inter-temporal optimality conditions implicit in the determination of...

An inter-temporal general equilibrium econometric model is developed for the Australian economy and used to simulate a trade policy. The model treats the prices of non-traded goods as endogenous and takes account of the inter-temporal optimality conditions implicit in the determination of...

This paper introduces the concept of a steepest ascent tariff reform for a small open economy. By construction, it is locally optimal in that it yields the highest gain in utility of any feasible tariff reform vector of the same length. Accordingly, it provides a convenient benchmark for the...

We study a many country endogenous growth model in which decisions about innovation and new investment are influenced by growth expectations. Adaptive learning dynamics determine country-specific short run transition paths. Countries differ in basic structural parameters and may impose tariffs...