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Global Rebalancing; Implications for Low-Income Countries
Yang, Yongzheng - International Monetary Fund (IMF) - 2011
While global rebalancing will mainly involve structural realignment among major advanced and emerging market economies, it could have significant impact on low-income countries (LICs). Simulations using a global general equilibrium model show that a more balanced global economy would tend to...
Persistent link: https://www.econbiz.de/10009369449
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Elasticity Optimism
International Monetary Fund (IMF); International … - 2009
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...
Persistent link: https://www.econbiz.de/10008561068
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China's Changing Trade Elasticities
Aziz, Jahangir; Li, Xiangming - International Monetary Fund (IMF) - 2007
China's sectoral trade composition, product quality mix, and import content of processing exports have all changed substantially during the past decade. This has rendered trade elasticities estimated using aggregate data highly unstable, with more recent data pointing to significantly higher...
Persistent link: https://www.econbiz.de/10005263876
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An aggregate import demand function for Australia: a cointegration approach
Shareef, Riaz; Tran, Vu - School of Business, Edith Cowan University - 2007
aggregate import demand function for Australia during the period 1959Q3Ã’2006Q3. Testing for cointegration, we find these … variables are not stationary but are cointegrated. The results are consistent across three different cointegration tests … only one cointegration vector is found, there is a unique long-run equilibrium relationship among the variables. In the …
Persistent link: https://www.econbiz.de/10009642893
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Aggregate Imports and Expenditure Components in the Philippines: An Econometric Analysis
Agbola, Frank W. - In: Indian Economic Review 44 (2009) 2, pp. 155-170
This paper estimates aggregate short-run and long-run import demand functions for the Philippines using data for the period 1960-2006. Results indicate that import demand and its determinants are cointegrated in the long run. The import demand with respect to expenditure components is inelastic...
Persistent link: https://www.econbiz.de/10008547899
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Aggregate Imports and Expenditure Components in the Philippines: An Econometric Analysis
Agbola, Frank W. - In: Indian Economic Review 44 (2009) 2, pp. 155-170
This paper estimates aggregate short-run and long-run import demand functions for the Philippines using data for the period 1960-2006. Results indicate that import demand and its determinants are cointegrated in the long run. The import demand with respect to expenditure components is inelastic...
Persistent link: https://www.econbiz.de/10008552757
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THE DETERMINANTS OF AGGREGATE IMPORT DEMAND IN BRUNEI DARUSSALAM: AN EMPIRICAL ASSESSMENT USING A COINTEGRATION AND ERROR CORRECTION APPROACH
NARAYAN, PARESH KUMAR; SMYTH, RUSSELL - In: The Singapore Economic Review (SER) 50 (2005) 02, pp. 197-210
This article examines the determinants of aggregate import demand in Brunei Darussalam within a cointegration and error … correction framework using the bounds test for cointegration. In addition to the real effective exchange rate and real GDP, in …
Persistent link: https://www.econbiz.de/10005050721
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Growth, Expansion of Markets, and Income Elasticities in World Trade
Wu, Yi - International Monetary Fund (IMF) - 2005
The Houthakker-Magee effect implies that a country facing unfavorable income elasticities in trade must either grow at a slower rate than its trading partners or experience a trend worsening of its current account and/or depreciation of its real exchange rate. Krugman (1989) first documented the...
Persistent link: https://www.econbiz.de/10005604818
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Oil Price Shocks and Long Run Price and Import Demand Behavior
Kleibergen, Frank; Dijk, Herman van; Urbain, Jean-Pierre - In: Annals of the Institute of Statistical Mathematics 51 (1999) 3, pp. 399-417
Persistent link: https://www.econbiz.de/10005616125
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Foreign exchange reserves and import demand in a developing economy: the case of Pakistan
Arize, Augustine; Malindretos, John; Grivoyannis, Elias - In: International Economic Journal 18 (2004) 2, pp. 259-274
when estimating import demand function for an LDC. Using several cointegration techniques, it is shown that there is one …
Persistent link: https://www.econbiz.de/10005644221