Estimating Trade Equations From Aggregate Bilateral Data
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Estimating Trade Equations From Aggregate Bilateral Data
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Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 1999-05-01
Estimating Trade Equations From Aggregate Bilateral Data written by Mr.Tamim Bayoumi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-05-01 with Business & Economics categories.
This paper uses bilateral data on 420 merchandise trade flows between 21 industrial countries are used to estimate standard trade equations. The data set of over 11,000 observations allows the underlying elasticities to be estimated with considerable precision. Remarkably, a single specification appears to explain behavior across these countries in spite of the large number of individual flows analyzed. The results indicate a powerful long-run effect from supply on exports. Also, the real exchange rate elasticity depends upon the behavior of third country exchange rates. There is evidence of pricing to market and of a J-curve.
Time Series Analysis Of Export Demand Equations
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Author : Mr.Abdelhak Senhadji
language : en
Publisher: International Monetary Fund
Release Date : 1998-10-01
Time Series Analysis Of Export Demand Equations written by Mr.Abdelhak Senhadji and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-01 with Business & Economics categories.
The paper estimates export demand elasticities for a large number of developing and developed countries, using time-series techniques that account for the nonstationarity in the data. The average long-run price and income elasticities are found to be approximately -1 and 1.5, respectively. Thus, exports do react to both the trade partners’ income and to relative prices. Africa faces the lowest income elasticities for its exports, while Asia has both the highest income and price elasticities. The price and income elasticity estimates have good statistical properties.
New Estimates For Direction Of Trade Statistics
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Author : Mr.Marco Marini
language : en
Publisher: International Monetary Fund
Release Date : 2018-01-24
New Estimates For Direction Of Trade Statistics written by Mr.Marco Marini and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-24 with Business & Economics categories.
In March 2017, the IMF published an upgrade of its Direction of Trade Statistics (DOTS) dataset. This paper documents the new methodology that has been developed to estimate missing observations of bilateral trade statistics on a monthly basis. The new estimation procedure is founded on a benchmarking method that produces monthly estimates based on official trade statistics by partner country reported at different times and frequencies. In this paper we describe the new estimation methodology. Additional data sources have also been incorporated. We also assess the impact of the new estimates on trade measurement in DOTS at global, regional, and country-specific levels. Finally, we suggest some developments of DOTS to strenghten its relevance for IMF bilateral and multilateral surveillance.
Armington Elasticities In Intermediate Inputs Trade
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Author : Mika Saito
language : en
Publisher: International Monetary Fund
Release Date : 2004-02-01
Armington Elasticities In Intermediate Inputs Trade written by Mika Saito and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-02-01 with Business & Economics categories.
This paper finds that the estimates of Armington elasticities (the elasticity of substitution between groups of products identified by country of origin) obtained from multilateral trade data can differ from those obtained from bilateral trade data. In particular, the former tends to be higher than the latter when trade consists largely of intermediate inputs. Given that the variety of intermediate inputs traded across borders is increasing rapidly, and that the effect of this increase is not adequately captured in multilateral trade data, the evidence shows that the use of multilateral trade data to estimate Armington elasticities needs caution.
Measuring Price Competitiveness For Industrial Country Trade In Manufactures
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1987-04-28
Measuring Price Competitiveness For Industrial Country Trade In Manufactures written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987-04-28 with Business & Economics categories.
This paper describes the methods used by the Research Department to construct the indicators of price competitiveness, or real effective exchange rates, published for 17 industrial countries in International Financial Statistics. The weighting scheme used to construct these indicators is derived from a disaggregated system of demand equations encompassing trade relations in bilateral and third-country markets. Other commonly used trade-weighting schemes are shown to be special cases of the more general and less restrictive competitiveness weights. Differences in the measurement of relative price changes using indices based on other weights are explained by the greater informational content of the competitiveness weights.
Structural Change In Japan
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Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 1998-06-09
Structural Change In Japan written by Mr.Tamim Bayoumi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-06-09 with Business & Economics categories.
This volume, by Bijan B. Aghevli, Tamim Bayoumi, and Guy Meredith, is based on a seminar on structural change in Japan held in early 1997 and chaired by the IMF's First Deputy Managing Director, Stanley Fischer. Discussion of teh day-to-day management of the standard levers of fiscal and monetary policy is interlinked with consideration for the more deep-seated structural issues. By shifting and destabilizing the underlying economic relationships and creating uncertainty, structural change complicates the task of policy analysis. This volume describes how the IMF is responding to these challenges and how outside experts assess this effect.
A Practical Guide To Trade Policy Analysis
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Author : Marc Bacchetta
language : en
Publisher:
Release Date : 2012
A Practical Guide To Trade Policy Analysis written by Marc Bacchetta and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Political Science categories.
Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development
Demand And Supply Of Aggregate Exports Of Goods And Services
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Author : Hubert M. Strauss
language : en
Publisher: Springer Science & Business Media
Release Date : 2004
Demand And Supply Of Aggregate Exports Of Goods And Services written by Hubert M. Strauss and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with International trade categories.
Effective Trade Costs And The Current Account An Empirical Analysis
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Author : Ms.Emine Boz
language : en
Publisher: International Monetary Fund
Release Date : 2019-01-15
Effective Trade Costs And The Current Account An Empirical Analysis written by Ms.Emine Boz and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-15 with Business & Economics categories.
A view receiving increased support is that the height of trade costs in prime export sectors has a strong effect on current account balances: countries specializing in sectors that face relatively high trade costs, such as services, tend to run current account deficits, and similarly, countries specializing in low trade cost sectors, such as manufacturing, tend to run current account surpluses. To test this view, we first infer comparative advantages and trade costs, by sector, within a large sample of countries for the period 1970–2014. Then we construct effective trade costs—trade costs weighted by sectoral comparative advantage—to gauge the height of a country’s overall trade costs. Results reveal that, although higher effective exporting costs are associated with lower current account balances, their impact is quantitatively limited; furthermore, the effective costs of importing often have no statistically significant effect.
Advances In Economics And Econometrics Volume 2 Applied Economics
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Author : Daron Acemoglu
language : en
Publisher: Cambridge University Press
Release Date : 2013-05-13
Advances In Economics And Econometrics Volume 2 Applied Economics written by Daron Acemoglu and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-13 with Business & Economics categories.
This is the second of three volumes containing edited versions of papers and commentaries presented at invited symposium sessions of the Tenth World Congress of the Econometric Society, held in Shanghai in August 2010. The papers summarize and interpret key developments in economics and econometrics, and they discuss future directions for a wide variety of topics, covering both theory and application. Written by the leading specialists in their fields, these volumes provide a unique, accessible survey of progress on the discipline. The first volume primarily addresses economic theory, with specific focuses on nonstandard markets, contracts, decision theory, communication and organizations, epistemics and calibration, and patents.