a multistage production system: wool. Our results do not support FDE’s conclusions with regard to the distribution of …

This paper presents the theoretical and numerical structure of WOOLGEM – a general equilibrium model of the world wool … market which treats raw wool, wool textiles and wool garments as heterogeneous commodities. The model divides the world wool … represent different production stages for wool and one representing the nonwool economy. The wool industrial sectors cover the …

We present a model of the world wool market that merges two modelling traditions: the partialequilibrium commodity …-specific approach and the computable general-equilibrium approach. The model captures the multistage nature of the wool production … system, and the heterogeneous nature of raw wool, processed wool and wool garments. It also captures the important wool …