Estimating Trade Elasticities
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Author | : Jaime Marquez |
Publisher | : Springer Science & Business Media |
Total Pages | : 147 |
Release | : 2013-03-14 |
Genre | : Business & Economics |
ISBN | : 1475735367 |
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.
Author | : Jaime Marquez |
Publisher | : |
Total Pages | : 152 |
Release | : 2014-01-15 |
Genre | : |
ISBN | : 9781475735376 |
Author | : Matthieu Bussière |
Publisher | : |
Total Pages | : 0 |
Release | : 2011 |
Genre | : Economics |
ISBN | : |
This paper introduces a new methodology for the estimation of demand trade elasticities based on an import intensity-adjusted measure of aggregate demand, with the foundation of a stylized theoretical model. We compute the import intensity of demand components by using the OECD Input-Output tables. We argue that the composition of demand plays a key role in trade dynamics because of the large movements in the most import-intensive categories of expenditure (especially investment, but also exports). We provide evidence in favor of these mechanisms for a panel of 18 OECD countries, paying particular attention to the 2008-09 Great Trade Collapse.
Author | : Richard E. Baldwin |
Publisher | : CEPR |
Total Pages | : 246 |
Release | : 2009 |
Genre | : Commercial policy |
ISBN | : 1907142061 |
Author | : Mr.Claudio Paiva |
Publisher | : International Monetary Fund |
Total Pages | : 24 |
Release | : 2003-07-01 |
Genre | : Business & Economics |
ISBN | : 1451856148 |
This paper provides econometric estimates of trade elasticities for Brazil obtained through cointegration and vector auto regression models and controlling for the effects of exchange rate volatility, capacity utilization, and changes in import tariffs. The results suggest that (i) recent market expectations may have been unduly pessimistic regarding the responsiveness of Brazil's trade flows to the real exchange rate, but (ii) the GDP growth rates targeted by the new government may put downward pressure on the exchange rate and thus render the achievement of official inflation targets considerably more difficult if structural reforms are not implemented.
Author | : Matthieu Bussière |
Publisher | : |
Total Pages | : 41 |
Release | : 2011 |
Genre | : Economics |
ISBN | : |
This paper introduces a new methodology for the estimation of demand trade elasticities based on an import intensity-adjusted measure of aggregate demand, with the foundation of a stylized theoretical model. We compute the import intensity of demand components by using the OECD Input-Output tables. We argue that the composition of demand plays a key role in trade dynamics because of the large movements in the most import-intensive categories of expenditure (especially investment, but also exports). We provide evidence in favor of these mechanisms for a panel of 18 OECD countries, paying particular attention to the 2008-09 Great Trade Collapse.
Author | : Mr.Stephen Tokarick |
Publisher | : International Monetary Fund |
Total Pages | : 42 |
Release | : 2010-07-01 |
Genre | : Business & Economics |
ISBN | : 1455202142 |
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.
Author | : Colin Carter |
Publisher | : CRC Press |
Total Pages | : 316 |
Release | : 2019-04-24 |
Genre | : Science |
ISBN | : 0429702051 |
This book addresses a number of issues related to the estimation and application of elasticities in international agricultural trade. It is the outgrowth of renewed interest by researchers, traders, and others in quantifying those factors that affect international trade of agricultural products.
Author | : Jaime R. Marquez |
Publisher | : |
Total Pages | : 52 |
Release | : 2005 |
Genre | : Balance of trade |
ISBN | : |
Author | : Hiau Looi Kee |
Publisher | : World Bank Publications |
Total Pages | : 36 |
Release | : 2006 |
Genre | : |
ISBN | : |
The objective of this paper is to provide indicators of trade restrictiveness that include both measures of tariff and nontariff barriers for 91 developing and industrial countries. For each country, the authors estimate three trade restrictiveness indices. The first one summarizes the degree of trade distortions that each country imposes on itself through its own trade policies. The second one focuses on the trade distortions imposed by each country on its import bundle. The last index focuses on market access and summarizes the trade distortions imposed by the rest of the world on each country's export bundle. All indices are estimated for the broad aggregates of manufacturing and agriculture products. Results suggest that poor countries (and those with the highest poverty headcount) tend to be more restrictive, but they also face the highest trade barriers on their export bundle. This is partly explained by the fact that agriculture protection is generally larger than manufacturing protection. Nontariff barriers contribute more than 70 percent on average to world protection, underlying their importance for any study on trade protection.