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:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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100 1 |a Senhadji, Abdelhak 
245 0 0 |a Time-Series Estimation of Structural Import Demand Equations  |b A Cross-Country Analysis  |c Abdelhak Senhadji 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1997 
300 |a 29 pages 
651 4 |a Papua New Guinea 
653 |a Inflation 
653 |a Wealth 
653 |a Income 
653 |a Import prices 
653 |a Price elasticity 
653 |a Dynamic Treatment Effect Models 
653 |a Currency; Foreign exchange 
653 |a Saving 
653 |a Personal income 
653 |a Deflation 
653 |a Open Economy Macroeconomics 
653 |a Trade: General 
653 |a Diffusion Processes 
653 |a Exports and Imports 
653 |a International economics 
653 |a National accounts 
653 |a Personal Income, Wealth, and Their Distributions 
653 |a Time-Series Models 
653 |a Price Level 
653 |a Foreign Exchange 
653 |a International trade 
653 |a Prices 
653 |a Macroeconomics 
653 |a Macroeconomics: Consumption 
653 |a Real exchange rates 
653 |a Dynamic Quantile Regressions 
653 |a Empirical Studies of Trade 
653 |a Imports 
653 |a Foreign exchange 
041 0 7 |a eng  |2 ISO 639-2 
989 |b IMF  |a International Monetary Fund 
490 0 |a IMF Working Papers 
028 5 0 |a 10.5089/9781451855340.001 
856 4 0 |u https://elibrary.imf.org/view/journals/001/1997/132/001.1997.issue-132-en.xml?cid=2366-com-dsp-marc  |x Verlag  |3 Volltext 
082 0 |a 330 
520 |a 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