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MEASURING PRICE ELASTICITY OF SECTORIAL IMPORTS
- Authors
- Kim, Soyoung; Lee, Byung Hee; Park, Soo Kyung
- Issue Date
- May-2012
- Publisher
- Blackwell Publishing Inc.
- Citation
- Pacific Economic Review, v.17, no.2, pp 181 - 203
- Pages
- 23
- Indexed
- SSCI
SCOPUS
- Journal Title
- Pacific Economic Review
- Volume
- 17
- Number
- 2
- Start Page
- 181
- End Page
- 203
- ISSN
- 1361-374X
1468-0106
- Abstract
- Previous published studies have estimated the long-run cointegrating relationship to infer the price elasticity of imports, but a stable long-run cointegrating relationship might not be detected in the data, especially in the case of sectoral data. This paper develops a method to estimate the price elasticity of imports based on a vector autoregression model, which can be applied when a stable long-run cointegration relationship does not exist. The methods developed in past studies and our method are applied to Korean sectoral imports data to illustrate the usefulness of our method.
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Related Researcher
- Lee, Byung Hee
- SCHOOL OF BUSINESS (SCHOOL OF BUSINESS ADMINISTRATION)