Macro-economy - GRACE - Revision history

Taoyuan Wei: Move figures to the left

2021-09-21T09:58:15Z

Move figures to the left

← Older revision		Revision as of 11:58, 21 September 2021
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	[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).\|~~right~~]]		[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).\|left]]
	[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|~~right~~]]		[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|left]]

	Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.		Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.

	The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments.		The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments.

Taoyuan Wei at 10:22, 5 August 2020

2020-08-05T10:22:05Z

← Older revision		Revision as of 12:22, 5 August 2020
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	Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.		[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).\|right]]
			[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|right]]

			Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.

			The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments.



	The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments.

	~~[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).\|left]]~~
	[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|left]]
	{{ModelDocumentationTemplate		{{ModelDocumentationTemplate
	\|IsDocumentationOf=GRACE		\|IsDocumentationOf=GRACE
	\|DocumentationCategory=Macro-economy		\|DocumentationCategory=Macro-economy
	}}		}}

Taoyuan Wei at 10:15, 5 August 2020

2020-08-05T10:15:54Z

← Older revision		Revision as of 12:15, 5 August 2020
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	Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.		Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.

			The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments.

	[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).\|left]]		[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).\|left]]
	The Global Bank ~~collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions~~. The ~~Global Trust collects the earnings from installed capital~~ and ~~distributes them among regions, given~~ the ~~assumption of perfect capital mobility~~. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments. {{ModelDocumentationTemplate		[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|left]]
			{{ModelDocumentationTemplate
	\|IsDocumentationOf=GRACE		\|IsDocumentationOf=GRACE
	\|DocumentationCategory=Macro-economy		\|DocumentationCategory=Macro-economy
	}}		}}
	[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|center]]

Taoyuan Wei: change position

2020-08-05T10:08:14Z

change position

← Older revision		Revision as of 12:08, 5 August 2020
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	\|DocumentationCategory=Macro-economy		\|DocumentationCategory=Macro-economy
	}}		}}
	[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).]]		[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|center]]

Taoyuan Wei: change position.

2020-08-05T10:06:12Z

change position.

← Older revision		Revision as of 12:06, 5 August 2020
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	Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.		Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.

	[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).]]		[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).\|left]]
	The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments.		The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments. {{ModelDocumentationTemplate

	~~Source: based on Hertel (1997)~~

	~~'''Figure 2'''. The Regional Household and the Global Bank~~{{ModelDocumentationTemplate
	\|IsDocumentationOf=GRACE		\|IsDocumentationOf=GRACE
	\|DocumentationCategory=Macro-economy		\|DocumentationCategory=Macro-economy
	}}		}}
			[[File:GlobalBank.png\|alt=Figure 2. The Regional Household and the Global Bank. Source: based on Hertel (1997).\|thumb\|'''Figure 2'''. The Regional Household and the Global Bank. Source: based on Hertel (1997).]]

Taoyuan Wei: insert Fig. 1.

2020-08-05T10:01:09Z

insert Fig. 1.

← Older revision		Revision as of 12:01, 5 August 2020
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	{{ModelDocumentationTemplate		Figures 1 and 2 illustrate the circular flow of payments among the main components of the model, which explicitly depicts interactions between commodity and factor markets as well as interactions among regions. The Regional Household, which represents private households and government in each region, receives the payments from supplying primary factors. The income of the Regional Household is spent on private and public consumption, and savings.

			[[File:PaymentFlow.png\|alt=Figure 1. Flow of payments in the GRACE model.\|thumb\|Figure 1. Flow of payments in the GRACE model. Source: Aaheim and Rive (2005).]]
			The Global Bank collects savings from all regions and then provides investments to regions so that the expected return to capital equalises among regions. The Global Trust collects the earnings from installed capital and distributes them among regions, given the assumption of perfect capital mobility. Firms use primary factors and intermediates to produce goods and services. Domestic and imported commodities build the so-called Armington aggregate, which is then distributed among private and public consumption and investments.

			Source: based on Hertel (1997)

			'''Figure 2'''. The Regional Household and the Global Bank{{ModelDocumentationTemplate
	\|IsDocumentationOf=GRACE		\|IsDocumentationOf=GRACE
	\|DocumentationCategory=Macro-economy		\|DocumentationCategory=Macro-economy
	}}		}}

Mathijs Harmsen: Edited automatically from page GRACE setup.

2020-08-03T17:41:41Z

Edited automatically from page GRACE setup.

New page

{{ModelDocumentationTemplate
|IsDocumentationOf=GRACE
|DocumentationCategory=Macro-economy
}}