National welfare versus ‘economic independence’: The case of iran

✍ Scribed by Hossein Razavi

• Book ID: 102963894
• Publisher: John Wiley and Sons
• Year: 1983
• Tongue: English
• Weight: 706 KB
• Volume: 4
• Category: Article
• ISSN: 0143-2087
• DOI: 10.1002/oca.4660040304

✦ Synopsis

A linear-quadratic welfare maximization model is formulated to study the trade-offs between the political desirability and the economic cost of reducing foreign trade. The model is then applied to the case of Iran and a dynamic programming algorithm is employed to calculate the numerical values of the optimal trade policies. The effects of various political attitudes on the trade policies are discussed. KEY WORDS Linear-quadratic control Welfare maximization Optimal trade policy Economic modelling * The major part of this research was done when the author was associated with the Plan and Budget Organization of Iran. However, the opinions expressed here are those of the author and do not necessarily represent the views of the Plan and Budget Organization or those of Ernst & Whinney.