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Estimating Trade Elasticities

Jaime Marquez

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ISBN 10: 1441953000 / ISBN 13: 9781441953001
Published by Springer-Verlag New York Inc.
New Condition: New Soft cover
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138 pages. Dimensions: 8.9in. x 6.1in. x 0.6in.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. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Bookseller Inventory # 9781441953001

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Bibliographic Details

Title: Estimating Trade Elasticities

Publisher: Springer-Verlag New York Inc.

Binding: Paperback

Book Condition:New

Book Type: Paperback

About this title

Synopsis:

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.

About the Author:

Jaime Marquez received his PhD in Economics from the University of Pennsylvania in 1983. Since then, he has been a staff economist of the Federal Reserve Board. He also serves as a professorial lecturer at the School of Advanced International Studies of Johns Hopkins University.

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