Global economic modelling: some Australian and New Zealand perspectives

Mula, Joseph M. and MacRae, Don (1979) Global economic modelling: some Australian and New Zealand perspectives. In: 4th Australia and New Zealand Regional Science Association Conference 1979 , 2-5 Dec 1979, Albury-Wodonga, Australia.

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The economic basis of global models has undergone considerable improvement in the last five years. Case studies considered in this paper have been derived from the use of an existing model of the world economy. These case studies consider some of the economic implications for Australia and New Zealand of the alternative patterns of trade in food, minerals and energy resulting from different trade liberalisation strategies between Australia and New Zealand. These strategies are considered within the context of a particular global scenario evaluated by the OECD using the same model.
Two main cases are considered.
The first, dealing with a gradual liberalisation of trade between Australia and New Zealand, shows that free trade between these countries could be mutually beneficial. In the second case we see that if New Zealand isolates itself through trade from the rest of the world, while continuing to trade with Australia as in the past, it may lead to a reduced standard of living as measured in consumption per capita terms. Repeated emphasis is made throughout the paper that both the modelling work described here and the results it has produced are of a highly exploratory nature.

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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: Yes
Item Status: Live Archive
Additional Information: At head of cover title : 'Australian Resources and Environmental Assessment (AREA) Model. A study by the Department of Science and the Environment in consultation with Commonwealth departments and agencies.' Scan of published version deposited with permission of publisher.
Faculty/School / Institute/Centre: Historic - Faculty of Business - Department of Accounting (Up to 31 Mar 2007)
Faculty/School / Institute/Centre: Historic - Faculty of Business - Department of Accounting (Up to 31 Mar 2007)
Date Deposited: 25 Feb 2008 05:49
Last Modified: 05 Sep 2013 06:01
Uncontrolled Keywords: Australia; New Zealand; global model; world economy; trade; trading policies
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150308 International Business
18 Law and Legal Studies > 1801 Law > 180117 International Trade Law
14 Economics > 1403 Econometrics > 140303 Economic Models and Forecasting
Fields of Research (2020): 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3507 Strategy, management and organisational behaviour > 350706 International business
48 LAW AND LEGAL STUDIES > 4803 International and comparative law > 480308 International trade and investment law
38 ECONOMICS > 3802 Econometrics > 380203 Economic models and forecasting
Socio-Economic Objectives (2008): B Economic Development > 91 Economic Framework > 9103 International Trade > 910301 International Agreements on Trade

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