A new study based on an input-output model (written in GAMS) indicates that the trade policies proposed by presidential candidate Donald Trump could have substantial negative effects.
- http://news.muckety.com/2016/09/20/peterson-institute-trumps-trade-policies-would-be-terribly-destructive-for-the-us/48211
- https://piie.com/publications/piie-briefing/assessing-trade-agendas-us-presidential-campaign
The principle of comparative advantages in trade was called by Paul Samuelson: an economic idea that is both universally true and not obvious. The not so intuitive part of this seems prevalent in the political discussions and on the campaign trail: most arguments are not based on economics.
References
- Marcus Noland, Gary Clyde Hufbauer, Sherman Robinson, and Tyler Moran, “Assessing Trade Agendas in the US Presidential Campaign”, https://piie.com/system/files/documents/piieb16-6.pdf
- Donald J. Boudreaux, “Comparative Advantage”, The Concise Encyclopedia of Economics, http://www.econlib.org/library/Enc/ComparativeAdvantage.html
- Erwin Kalvelagen, “Solving Systems of Linear Equations with GAMS”, http://www.amsterdamoptimization.com/pdf/lineq.pdf. Has an example demonstrating some techniques relating to Input-Output analysis.