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• W585566503 abstract "This paper examines the treatment of exports and imports, and external closure rules, adopted in recent single-country general equilibrium models of small economies. The paper presents a simple, one-sector counterpart used in applied models. The paper derives graphical and algebraic solutions to the model and shows that, unlike earlier external closures, this one gives rise to a well-behaved, price-taking economy. The model is also useful to illustrate the role of elasticities in popular trade-theoretic models that include traded and non-traded goods." @default.
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• W585566503 date "1986-06-01" @default.
• W585566503 modified "2023-09-27" @default.
• W585566503 title "The Treatment of Foreign Trade in Computable General Equilibrium Models of Small Economies" @default.
• W585566503 doi "https://doi.org/10.22004/ag.econ.198350" @default.
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