As a guide to the reorganisation of resources, the MVP /MFC comparison can result in the adjustment of resources to new levels which are actually further away from their optimal levels than their original values. Duloy illustrated this paradox mathematically in the context of fitted agricultural...

Two large applied general equilibrium models, GTAP and MONASH, are used in this paper to simulate the elimination of trade barriers among the members of APEC. These models focus respectively on global trading relations and on the detailed sectoral, occupational, and regional dimensions of the...

This short note demonstrates that Sato's 1972 insight concerning the equivalence between Frisch's 'money flexibility' parameter and the average elasticity of substitution among commodities needs to be modified if it is to be applied to non-homothetic utility functions. Fortunately the...

This paper is organized around brief accounts of two modelling initiatives, one with an Australian and the other with a global focus, which have contributed to the policy debate about greenhouse gas abatement. The Australian study involved the combined use of an energy technology programming...

Estimating the price responsiveness of market shares during a period of structural transition requires a distinction to be made between responses to variables explicitly recognized in the model and those due to more general changes in the trading environment. Often the latter are minimally...

Consider the following two opinions, both of which can be found in the literature of consumer demand systems: (a) As the real income of a consumer becomes indefinitely large, re-mixing the consumption bundle becomes irrelevant: having chosen the ultimately satisfying budget shares at any given...

This is a companion paper to Impact Preliminary Working Paper No OP-73 in which Rimmer and Powell report on a new implicitly directly additive demand system (AIDADS) which (in Cooper and McLaren's 1992b terminology) is effectively globally regular. In OP-73 AIDADS is fitted to a six-commodity...

At least since the mid-1970s, the emphasis in applied demand analysis has been on a flexible specification of substitution effects. Recent theoretical work by Cooper and McLaren (1992a, 1992b and 1996) and Cooper, McLaren and Parameswaran (1994) has put more emphasis on effectively globally...