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Elasticity Optimism.
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate substitutability is...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2009.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover Page; Title Page; Copyright Page; Contents; I Introduction; II Trade Elasticities: Practice ahead of Theory; A Practice; B Theory; 1 No Firm Entry; 2 Allowing for Firm Entry; 3 The Price Elasticity of Imports; III Identification; A Microeconomic Estimates; B Homogeneous Estimates; C Data; IV Results and Relevance; A Microeconomic Results; 1 Microeconomic estimates of the elasticity of substitution; B Macroeconomic Results; 1 Estimation with common correlated effects; C Relevance; 2 The J-curve in a two-sector BKK model; D Stability; 2 Variants on the weights.
- 3 Estimation without common correlated effectsV Conclusion; A Aggregation and Homogeneity; B Heterogeneous Supply; C The Price Elasticity of Imports; D Derivation of the Supply Curve; E Estimated Variances; F A Two-Sector Version of BKK; F. 1 Benchmark Parameter Values taken from BKK (1994); References; Footnotes.