Advanced Studies in Theoretical and Applied Econometrics

Estimating Trade Elasticities

Authors: Marquez, Jaime

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About this book

One cannot exaggerate the importance of estimating how international trade responds to changes in income and prices. But there is a tension between whether one should use models that fit the data but that contradict certain aspects of the underlying theory or models that fit the theory but contradict certain aspects of the data. The essays in Estimating Trade Elasticities book offer one practical approach to deal with this tension. The analysis starts with the practical implications of optimising behaviour for estimation and it follows with a re-examination of the puzzling income elasticity for US imports that three decades of studies have not resolved. The analysis then turns to the study of the role of income and prices in determining the expansion in Asian trade, a study largely neglected in fifty years of research. With the new estimates of trade elasticities, the book examines how they assist in restoring the consistency between elasticity estimates and the world trade identity.

About the authors

Jaime Marquez received his PhD in Economics from the University of Pennsylvania in 1983. Since then, he has been a staff economist of the Federal Reserve Board. He also serves as a professorial lecturer at the School of Advanced International Studies of Johns Hopkins University.

Reviews

From the reviews:

"All in all, Marquez's book is a remarkable and thought-provoking contribution to the literature. Like all of his earlier work, it is very carefully and professionally done. It illustrates some of the conflicts that applied researchers must deal with, and it paves the way to a number of innovative and imaginative solutions. Marquez does a very good job at striking a balance between the needs of analysts and forecasters. His book is well worth reading for anyone interested in empirical trade issues."
(Journal of Economics/Zeitschrift für Nationalökonomie, 81:1 (2004)


Table of contents (5 chapters)

Buy this book

eBook $119.00
price for USA (gross)
  • ISBN 978-1-4757-3536-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $159.00
price for USA
  • ISBN 978-1-4020-7159-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $159.00
price for USA
  • ISBN 978-1-4419-5300-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Estimating Trade Elasticities
Authors
Series Title
Advanced Studies in Theoretical and Applied Econometrics
Series Volume
39
Copyright
2002
Publisher
Springer US
Copyright Holder
Springer Science+Business Media Dordrecht
eBook ISBN
978-1-4757-3536-9
DOI
10.1007/978-1-4757-3536-9
Hardcover ISBN
978-1-4020-7159-1
Softcover ISBN
978-1-4419-5300-1
Series ISSN
1570-5811
Edition Number
1
Number of Pages
IX, 138
Topics