Estimating Trade Elasticities

  • Jaime Marquez

Part of the Advanced Studies in Theoretical and Applied Econometrics book series (ASTA, volume 39)

Table of contents

  1. Front Matter
    Pages i-ix
  2. Jaime Marquez
    Pages 1-6
  3. Jaime Marquez
    Pages 7-36
  4. Jaime Marquez
    Pages 37-90
  5. Jaime Marquez
    Pages 91-112
  6. Jaime Marquez
    Pages 113-114
  7. Back Matter
    Pages 115-138

About this book

Introduction

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.

Keywords

development international trade modeling paraplupub trade

Authors and affiliations

  • Jaime Marquez
    • 1
  1. 1.Federal Reserve BoardUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-1-4757-3536-9
  • Copyright Information Springer-Verlag US 2002
  • Publisher Name Springer, Boston, MA
  • eBook Packages Springer Book Archive
  • Print ISBN 978-1-4419-5300-1
  • Online ISBN 978-1-4757-3536-9
  • Series Print ISSN 1570-5811
  • About this book