1979
DOI: 10.1086/260746
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Evidence on Structural Change in the Demand for Aggregate U.S. Imports and Exports

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Cited by 41 publications
(7 citation statements)
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“…The rub is that this approach may reveal little about the true structural relation between consumption and its determinants. and operating in the opposite direction, the joint finding that only current income is usually significant in import demand functions and that there is an apparent structural instability in the behavior of income elasticities of demand for imports [Hooper (1978), Stern et al (1979)] is suggestive of some payoff from trying alternative representations of real income. Similarly, one can note the considerable measure of success achieved by Sachs (1981) in using an inter-temporal life-cycle savings/investment framework to explain the pattern of current account positions after the oil shocks of the 1970s.…”
Section: Import Demandmentioning
confidence: 99%
See 1 more Smart Citation
“…The rub is that this approach may reveal little about the true structural relation between consumption and its determinants. and operating in the opposite direction, the joint finding that only current income is usually significant in import demand functions and that there is an apparent structural instability in the behavior of income elasticities of demand for imports [Hooper (1978), Stern et al (1979)] is suggestive of some payoff from trying alternative representations of real income. Similarly, one can note the considerable measure of success achieved by Sachs (1981) in using an inter-temporal life-cycle savings/investment framework to explain the pattern of current account positions after the oil shocks of the 1970s.…”
Section: Import Demandmentioning
confidence: 99%
“…More formal test to determine the constancy of the regression relationship over time have been conducted by Hooper (1978) and Stern et al (1979). Hooper (1978) applied the standard approach of splitting the sample at the point where the shift is assumed to have occurred, and then proceeded to test whether the shift was statistically significant by using the F -test developed by Chow (I960).…”
Section: Stability Of Trade Relationshipsmentioning
confidence: 99%
“…Evidence that the relation between total import and expenditure is not stable uver the business cycle was found by Giovannetti (1987), See, for example, Mastropasqua (1982) for the Italian case, Joy and Stolen (1975) and Stern et alii (1979) for the United States and Abreu (1987) and Fachada (1990) using Brazilian data,…”
Section: Parameter Stabilitymentioning
confidence: 98%
“…One may mention the contributions by [19], [34], [25], [18], [2], [42], [17], [5], [29], [36], [3], [14], [22], [23], [24], [41], [26], [32], [4].…”
Section: Introductionmentioning
confidence: 99%