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This paper addresses the problem of dynamic rate and power adaptation for forward link data transmission using high-order modulation and multicode formats in cellular wideband code division multiple access (WCDMA) networks. A novel framework for dynamic joint adaptation of modulation order, number of code channels (hence transmission rate), and transmission power is proposed for downlink data transmission in a cellular WCDMA system where different users have similar frame error rate (FER) requirements. Based on a general downlink signal-to-interference ratio (SIR) model, the problem of optimal dynamic rate and power adaptation is formulated, for which the rate and power allocation can be found by an exhaustive search. Two heuristic-based dynamic rate and power allocation schemes are proposed. Performance of dynamic joint rate and power adaptation under the proposed framework is evaluated for a random micromobility model using computer simulations. Also, an analytical approach to evaluate the throughput performance of dynamic rate and power adaptation using high-order modulation and multicode formats is presented.