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About this product
- DescriptionOne cant 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 t 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 Biography<em>Jaime Marquez</em> 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.
- Author(s)Jaime Marquez
- PublisherKluwer Academic Publishers
- Date of Publication08/08/2002
- SubjectEconomics: Professional & General
- Series TitleAdvanced Studies in Theoretical and Applied Econometrics
- Series Part/Volume Numberv. 39
- Country of PublicationUnited States
- ImprintKluwer Academic Publishers
- Content Notebiography
- Weight393 g
- Width156 mm
- Height234 mm
- Spine9 mm
- Format DetailsLaminated cover
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