Journal Description Editorial Committee How to Subscribe Forthcoming Articles Staff Papers Archive Copyright Information Use the free Adobe Acrobat Reader to view pdf files Free Email Notification Receive emails when we post new
items of interest to you. |
|
|
|
Time Series Estimation of Structural Import Demand Equations: A Cross-Country Analysis By Abdelhak Senhadji Full Text of This Article (PDF 1,503 K)
Abstract: A structural import demand equation is derived and estimated for a large number of countries, using recent time-series techniques that address the problem of non-stationarity. The average price elasticity is close to zero in the short run but is slightly higher than one in the long run. A similar pattern hold for import elasticities: the short-run income elasticities are on average less than 0.5, while the long-run income elasticities are close to 1.5. This paper also analyses the small sample properties of both the ordinary-least-squares (OLS) and the fully modified (FM) estimators of the short- and long-run elasticities using Monte Carlo methods. [JEL F14,F41,E21,C22]
© 1998 International Monetary Fund
|
