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Time-Series Estimation of Structural Import Demand Equations A Cross-Country Analysis

This paper derives a structural import demand equation and estimates it for a large number of countries, using recent time series techniques that address the problem of nonstationarity. Because the statistical properties of the different estimators have been derived only asymptotically, econometric...

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Bibliographic Details
Main Author: Senhadji, Abdelhak
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1997
Series:IMF Working Papers
Subjects:
Inflation
Wealth
Income
Import Prices
Price Elasticity
Dynamic Treatment Effect Models
Currency; Foreign Exchange
Saving
Personal Income
Deflation
Open Economy Macroeconomics
Trade: General
Diffusion Processes
Exports And Imports
International Economics
National Accounts
Personal Income, Wealth, And Their Distributions
Time-series Models
Price Level
Foreign Exchange
International Trade
Prices
Macroeconomics
Macroeconomics: Consumption
Real Exchange Rates
Dynamic Quantile Regressions
Empirical Studies Of Trade
Imports
Papua New Guinea
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper derives a structural import demand equation and estimates it for a large number of countries, using recent time series techniques that address the problem of nonstationarity. Because the statistical properties of the different estimators have been derived only asymptotically, econometric theory does not offer any guidance when it comes to comparing different estimators in small samples. Consequently, the paper derives the small-sample properties of both the ordinary-least-squares (OLS) and the fully-modified (FM) estimators using Monte Carlo methods. It is shown that FM dominates OLS for both the short- and long-run elasticities
Physical Description:29 pages
ISBN:9781451855340

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