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A Method For Calculating Export Supply And Import Demand Elasticities
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Book Synopsis A Method for Calculating Export Supply and Import Demand Elasticities by : Mr.Stephen Tokarick
Download or read book A Method for Calculating Export Supply and Import Demand Elasticities written by Mr.Stephen Tokarick and published by International Monetary Fund. This book was released on 2010-07-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade elasticities are often needed in applied country work for various purposes and this paper describes a method for estimating import demand and export supply elasticities withoutusing econometrics. The paper reports empirical estimates of these elasticities for a large number of low, middle, and upper income countries. One task for which trade elasticities are needed is in developing exchange rate assessments and this paper shows how the estimated elasticities can be used for this purpose.
Book Synopsis Time Series Analysis of Export Demand Equations by : Mr.Abdelhak Senhadji
Download or read book Time Series Analysis of Export Demand Equations written by Mr.Abdelhak Senhadji and published by International Monetary Fund. This book was released on 1998-10 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper estimates export demand elasticities for a large number of developing and developed countries, using time-series techniques that account for the nonstationarity in the data. The average long-run price and income elasticities are found to be approximately -1 and 1.5, respectively. Thus, exports do react to both the trade partners’ income and to relative prices. Africa faces the lowest income elasticities for its exports, while Asia has both the highest income and price elasticities. The price and income elasticity estimates have good statistical properties.
Book Synopsis Demand elasticities in international trade : are they really low? by : Arvind Panagariya
Download or read book Demand elasticities in international trade : are they really low? written by Arvind Panagariya and published by World Bank Publications. This book was released on 1999 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: December 1996 For the first time in the economics literature, Panagariya, Shah, and Mishra obtain import demand elasticities for a small country (Bangladesh) that are very large. The elasticities are based on parameters of a utility function that are systematically of the correct sign and statistically significant. Using highly disaggregated data, both own-price and cross-price elasticities are estimated. Most economists are comfortable with the assumption that import demand elasticities facing small countries such as Austria, Belgium, and Denmark are approximately infinite. Yet the actual estimates of import demand elasticities for these and other countries are disturbingly low. Typical estimates range from 1-2, and in rare cases rise to 3. Such estimates seriously undermine the case for unilateral liberalization since they suggest considerable market power on the part of even small economies. They also raise doubts about the ability of exports to serve as an engine of growth. With import demand elasticities lying between 1 and 3, a 20 percent annual expansion in exports would, for example, lead to a substantial deterioration in the terms of trade. Panagariya, Shah, and Mishra analyze the U.S. demand for imports from Bangladesh for the products restricted under the Multifiber Arrangement. Because Bangladesh is only a small supplier of these products and close substitutes are available from many Asian and Latin American countries, they expected the elasticity of demand for Bangladeshi imports to be high. Their estimates of own-price elasticity are consistently high, exceeding 65 in all cases. This finding accords with trade theorists' prejudice that small countries can essentially behave as price takers but conflicts with the view in the empirical literature that demand elasticities rarely exceed 3 and are generally between 1 and 2. The authors' analysis differs from the existing literature in three ways. First, contrary to the general practice of postulating an ad hoc equation that violates trade theory, they derive a set of estimation equations from an explicit, utility-maximization model. They estimate these equations as a system and use the estimated parameters of the utility function to obtain the Marshallian own-price and cross-price elasticities as well as the income elasticity of demand. Second, they take explicit account of U.S. imports from competitors of Bangladesh. Rather than proxy competitors' prices by the prices prevailing in the export market, they rely directly on competitors' prices. Finally, they use highly disaggregated data that make the unit value of exports a far better proxy for price than is the case with the aggregate export data that are commonly used in this literature. This paper is a product of the Country Operations Division, Country Department I, South Asia. The study was funded by the Bank's Research Support Budget under research project Export Competitiveness and the Real Exchange Rate (RPO 679-59).
Book Synopsis An Application of the Least-squares Method of Estimating Import Demand and Export Supply Elasticities to the Problem of Increasing Textile Imports from Japan by : Gail Yanagihara Chu
Download or read book An Application of the Least-squares Method of Estimating Import Demand and Export Supply Elasticities to the Problem of Increasing Textile Imports from Japan written by Gail Yanagihara Chu and published by . This book was released on 1970 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Export Supply and Import Demand Elasticities [microform] by : Denis Anthony Lawrence
Download or read book Export Supply and Import Demand Elasticities [microform] written by Denis Anthony Lawrence and published by National Library of Canada. This book was released on 1987 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating Import Supply and Demand Elasticities by : Anson Soderbery
Download or read book Estimating Import Supply and Demand Elasticities written by Anson Soderbery and published by . This book was released on 2013 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Feenstra (1994) developed, and Broda and Weinstein (2006) refined, a structural estimator to estimate import demand and supply elasticities. Working through the first principles of the methodology from Leamer (1981), this paper analyzes and improves the technique to provide a unified estimator of import supply and demand elasticities. The proposed LIML routine corrects small sample biases and constrained search inefficiencies. Standard estimates are shown to overestimate the median elasticity of substitution by over 35%. Applied to U.S. import data from 1993-2007, the biases of the standard estimates translate into an understatement of consumer gains from product variety by a factor of 6. Lastly, I investigate the implications of violations to the underlying assumptions of the model.
Book Synopsis Estimates of the Elasticities of Substitution Between Imports and Home Goods for the United States by : Clinton R. Shiells
Download or read book Estimates of the Elasticities of Substitution Between Imports and Home Goods for the United States written by Clinton R. Shiells and published by . This book was released on 1983 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Export Supply and Import Demand Elasticities by : Denis Anthony Lawrence
Download or read book Export Supply and Import Demand Elasticities written by Denis Anthony Lawrence and published by . This book was released on 1987 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis LIML Estimation of Import Demand and Export Supply Elasticities by : Vahagn Galstyan
Download or read book LIML Estimation of Import Demand and Export Supply Elasticities written by Vahagn Galstyan and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Import Demand Elasticities and Trade Distortions by : Hiau Looi Kee
Download or read book Import Demand Elasticities and Trade Distortions written by Hiau Looi Kee and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "To study the effects of tariffs on gross domestic product (GDP), one needs import demand elasticities at the tariff line level that are consistent with GDP maximization. These do not exist. Kee, Nicita, and Olarreaga modify Kohli's (1991) GDP function approach to estimate demand elasticities for 4,625 imported goods in 117 countries. Following Anderson and Neary (1992, 1994) and Feenstra (1995), they use these estimates to construct theoretically sound trade restrictiveness indices and GDP losses associated with existing tariff structures. Countries are revealed to be 30 percent more restrictive than their simple or import-weighted average tariffs would suggest. Thus, distortion is nontrivial. GDP losses are largest in China, Germany, India, Mexico, and the United States"--Abstract.
Book Synopsis Estimating Trade Elasticities by : Jaime Marquez
Download or read book Estimating Trade Elasticities written by Jaime Marquez and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: One cannot exaggerate the importance of estimating how international trade responds to changes in income and prices. But there is a tension between whether one should use models that fit the data but that contradict certain aspects of the underlying theory or models that fit the theory but contradict certain aspects of the data. The essays in Estimating Trade Elasticities book offer one practical approach to deal with this tension. The analysis starts with the practical implications of optimising behaviour for estimation and it follows with a re-examination of the puzzling income elasticity for US imports that three decades of studies have not resolved. The analysis then turns to the study of the role of income and prices in determining the expansion in Asian trade, a study largely neglected in fifty years of research. With the new estimates of trade elasticities, the book examines how they assist in restoring the consistency between elasticity estimates and the world trade identity.
Book Synopsis Price Elasticities in International Trade by : Robert Mitchell Stern
Download or read book Price Elasticities in International Trade written by Robert Mitchell Stern and published by Trade Policy Research Centre. This book was released on 1976 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Elasticity of Export Demand by : Walter H. Gardiner
Download or read book Price Elasticity of Export Demand written by Walter H. Gardiner and published by . This book was released on 1987 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Time-Series of Structural Import Demand Equations by : Mr. A. Senhadji Semlali
Download or read book Time-Series of Structural Import Demand Equations written by Mr. A. Senhadji Semlali and published by International Monetary Fund. This book was released on 1997-10-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper derives a structural import demand equation and estimates it for a large number of countries, using recent time series techniques that address the problem of nonstationarity. Because the statistical properties of the different estimators have been derived only asymptotically, econometric theory does not offer any guidance when it comes to comparing different estimators in small samples. Consequently, the paper derives the small-sample properties of both the ordinary-least-squares (OLS) and the fully-modified (FM) estimators using Monte Carlo methods. It is shown that FM dominates OLS for both the short- and long-run elasticities.
Book Synopsis Import Demand Elasticities Based on Quantity Data by : Shon Ferguson
Download or read book Import Demand Elasticities Based on Quantity Data written by Shon Ferguson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Correct estimates of import demand elasticities are essential for measuring the gains from trade and predicting the impact of trade policies. We show that estimates of import demand elasticities hinge critically on whether they are derived using trade quantities or trade values, and this difference is due to properties of the estimators. Using partial identification methods, we show theoretically that the upper bound on the set of plausible estimates is lower when using traded quantities, compared to the standard approach using trade values. Our theoretical predictions are confirmed using detailed product-level data on U.S. imports for the years 1993-2006. Our proposed method using traded quantities leads to smaller point estimates of the import demand elasticities for many goods and imply larger gains from trade compared to estimates based on trade values.
Book Synopsis Export Growth and the Terms of Trade by : James Riedel
Download or read book Export Growth and the Terms of Trade written by James Riedel and published by . This book was released on 1993 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Time-series Estimation of Structural Import Demand Equations by : A. Senhadji Semlali
Download or read book Time-series Estimation of Structural Import Demand Equations written by A. Senhadji Semlali and published by . This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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