Short-run and long-run industry-level estimates of U.S. Armington elasticities

By Michael P Gallaway, C. McDaniel, Sandra A. Rivera. 2003

189 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/cfe69b5a1368cbf245c86411ffb2baeba7c9a216

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In Economics and Econometrics

Citations in the corpus

The International Elasticity Puzzle (2008, result): “Similar estimates are found in Reinert and Shiells (1993) and in the short run elasticities reported in Gallaway, McDaniel and Rivera (2003).”
How Confident Can We Be in CGE-Based Assessments of Free Trade Agreements? (2003, background): “…and the key parameter is σi, the elasticity of substitution among imports from different sources for a given commodity.5 We begin by introducing the power of the trade cost for an imported commodity, Tirs, which equals one plus the ad valorem rates for freight, insurance and tariff, which are…”
Taste Parameters as Model Residuals: Assessing the 'Fit' of an Armington Trade Model (2005, background): “Recent econometric evidence also points to larger estimates of s k. Gallaway et al. (2003) use cointegration techniques to estimate long-run Armington elasticities (3 to 5 for the domestic/import choice) that are larger than are common in the time-series literature.”
Import Demand Elasticities and Trade Distortions (2004, unknown): “� lnptk =l np t −n + µ t n, ( 14 ) stn � pt,vt � = a0n + ann ln p”
Oil Shocks and External Adjustment (2007, background): “…and Marquez (2000) found that the long-run export price elasticity for U.S. goods and services was several times larger than the short-run elasticity; Gallaway, McDaniel, and Rivera (2003) found a similar disparity between long- and short-run trade price elasticities using industry-level data.”
In Search of the Armington Elasticity (2014, unknown): “Gallaway et al. (2003) have estimated short-run U.S. macroelasticities on monthly data that average 0.95, but long-run elasticities that are twice as large on average, in some cases up to five times larger.”