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Abstract
This paper summarises the development, structure and data sources of the Western
Australian World Wool Model. The model is a comparative static, partial equilibrium
model of the world wool market. The technique used for the model is applied general
equilibrium (AGE) modelling. Western Australia is separated from the rest of Australia
as a production region. A key feature of the model is that raw wool is broken down into
9 different qualities, which determine the end use of the wool. The construction of a
database containing these wool qualities is detailed. Potential uses for the model are
outlined, and results are compared and contrasted with earlier structural models of the
world wool market. Finally, advantages and disadvantages of the approach taken are
outlined.