Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-09

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Titel: Estimating Trade Elasticities : Demand Composition and the Trade Collapse of 2008-09

Beteiligte: Bussière, Matthieu [Verfasser:in]; Ghironi, Fabio [Sonstige Person, Familie und Körperschaft]; Callegari, Giovanni [Sonstige Person, Familie und Körperschaft]; Sestieri, Giulia [Sonstige Person, Familie und Körperschaft]; Yamano, Norihiko [Sonstige Person, Familie und Körperschaft]

Körperschaft: National Bureau of Economic Research

Erschienen: Cambridge, Mass: National Bureau of Economic Research, December 2011

Umfang: 1 Online-Ressource

Sprache: Englisch

DOI: 10.3386/w17712

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Beschreibung: This paper introduces a new methodology for the estimation of demand trade elasticities based on an import intensity-adjusted measure of aggregate demand, with the foundation of a stylized theoretical model. We compute the import intensity of demand components by using the OECD Input-Output tables. We argue that the composition of demand plays a key role in trade dynamics because of the large movements in the most import-intensive categories of expenditure (especially investment, but also exports). We provide evidence in favor of these mechanisms for a panel of 18 OECD countries, paying particular attention to the 2008-09 Great Trade Collapse

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