Global economic modelling: some Australian and New Zealand perspectives

Paper

Mula, Joseph M. and MacRae, Don. 1979. "Global economic modelling: some Australian and New Zealand perspectives." 4th Australia and New Zealand Regional Science Association Conference 1979 . Albury-Wodonga, Australia 02 - 05 Dec 1979 Canberra, Australia.

Paper/Presentation Title	Global economic modelling: some Australian and New Zealand perspectives
Presentation Type	Paper
Authors	Mula, Joseph M. (Author) and MacRae, Don (Author)
Journal or Proceedings Title	Proceedings of the 4th Australia and New Zealand Regional Science Association Conference 1979
Number of Pages	20
Year	1979
Place of Publication	Canberra, Australia
Conference/Event	4th Australia and New Zealand Regional Science Association Conference 1979
Event Details	4th Australia and New Zealand Regional Science Association Conference 1979 Event Date 02 to end of 05 Dec 1979 Event Location Albury-Wodonga, Australia
Abstract	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.
Keywords	Australia; New Zealand; global model; world economy; trade; trading policies
ANZSRC Field of Research 2020	350706. International business
	480308. International trade and investment law
	380203. Economic models and forecasting
Public Notes	File reproduced in accordance with the copyright policy of the publisher/author.
Byline Affiliations	Department of Science and the Environment, Australia
Institution of Origin	Commonwealth Dept. of Science and the Environment

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Global economic modelling: some Australian and New Zealand perspectives

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