Trade elasticity of substitution and equilibrium dynamics
نویسندگان
چکیده
منابع مشابه
Trade elasticity of substitution and equilibrium dynamics
The empirical literature provides a wide range of estimates for trade elasticities at the aggregate level. Furthermore, recent contributions in international macroeconomics suggest that low (implied) values of the trade elasticity of substitution may play an important role in understanding the disconnect between international prices and real variables. However, a standard model of the internati...
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This paper establishes a model to explore how all the countries in the world export to an importer. The trade frictions of an exporter include both a variable cost and a fixed cost, and the exporter’s bilateral trade relationship is represented by the exported value, the number of exporting firms, and the average price of exported products. The model relaxes the usual assumption that the price ...
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This study attempts to examine whether an automobile part exported from Japan is a kind of special and hardly replaced by the same part exported from other countries by estimating the elasticity of substitution between Japan and competing countries in a third market. The recent literature on foreign outsourcing and incomplete contract suggests that international transaction of intermediate inpu...
متن کاملEstimate of Armington substitution elasticity for fishery products in Iran
Abstract Nowadays, fishery and aquaculture products form an important fraction of the protein requirement and food of many people on the earth. The hike in prices of these essential products seems necessary owing to the increase in demand and consumption of these products in the country. The price transmission from the international market to the domestic market of tunas was investigated in t...
متن کاملEstimate of Armington substitution elasticity for fishery products in Iran
The price transmission from the international market to the domestic market of tunas was investigated in the present research. For this purpose, the elasticity of substitution between tuna imports with goods produced in Iran (Armington Elasticity) was calculated. Armington elasticity reflects a degree of substitution between commodities produced domestically and those produced abroad. A greater...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2010
ISSN: 0022-0531
DOI: 10.1016/j.jet.2010.01.008