countries did fall in 1998, the decline was not as great as in the dollar value of those imports, but reflected a greater slide … six countries that form the heart of this study were the source of 12.5 percent of US non-oil imports in 1998, and the … accrued benefit to the United States of this price collapse may have been as much as a quarter of the value of these imports …

small impact on pass-through, it nevertheless plays an important role in accounting for the secular rise in imports relative …

relating real imports and exports of goods and services for the G-7 countries to their incomes and relative prices. We begin by … well as equations for French and Italian exports, are an exception. Second, income elasticities of U.S. trade have not been …

literature. Exclusion of the supply effect leads to overestimation of the income elasticity. Results based on U.S. exports to …

of government policy to capture rents that arise from imperfect competition in international trade. The economic …

quarterly data for the period 1973-1981, this paper estimates income and price elasticities for non-oil imports of five major …

the U.S. external imbalances entails significant changes in real income, and that the speed with which U.S. net exports …

between trade and economic activity. Our analysis suggests that during the crisis both world trade and U.S. exports declined …