Difference between revisions of "Trade - COFFEE-TEA"
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+ | In the TEA model, international trade follows an Armington's aggregation[[CiteRef::armington1969theory]], in which a composite CES function differentiate consumer's preferences between imported and domestic goods. | ||
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+ | In the COFFEE model, international trade of energy and agriculture commodities is explicitely represented. Partial equilibrium is reached in a minimun cost basis, whereas trade between regions is part of the solution. |
Latest revision as of 11:58, 6 September 2019
Corresponding documentation | |
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Previous versions | |
Model information | |
Model link | |
Institution | COPPE/UFRJ (Cenergia), Brazil, http://www.cenergialab.coppe.ufrj.br/. |
Solution concept | General equilibrium (closed economy) |
Solution method | The COFFEE model is solved through Linear Programming (LP). The TEA model is formulated as a mixed complementary problem (MCP) and is solved through Mathematical Programming System for General Equilibrium -- MPSGE within GAMS using the PATH solver. |
Anticipation |
In the TEA model, international trade follows an Armington's aggregation1, in which a composite CES function differentiate consumer's preferences between imported and domestic goods.
In the COFFEE model, international trade of energy and agriculture commodities is explicitely represented. Partial equilibrium is reached in a minimun cost basis, whereas trade between regions is part of the solution.
References
- ^ | | Paul S Armington (1969). A theory of demand for products distinguished by place of production. Staff Papers, 16 (1), 159-178.