Intertemporal substitution in import demand

Ceglowski, Janet

doi:10.1016/0261-5606(91)90030-n

Cited by 24 publications

(32 citation statements)

References 7 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…While studies on other countries have used broad measures of short-term interest rates such as the 3-month T-bill rate (e.g. Ceglowsky, 1991), a similar series for Argentina is not available for the whole 1980-97 period. The only (unregulated) interest rate instruments for which data is readily available on a quarterly or monthly frequency are the interbank call rate and the time deposit interest rate.…”

Section: B Estimation Issuesmentioning

confidence: 99%

Determinants of Argentina's External Trade

Catão

Falcetti

2002

Journal of Applied Economics

View full text Add to dashboard Cite

Following the liberalization reforms of the late 80s and early 90s, several emerging market economies have experienced large and persistent trade deficits. This paper focuses on the Argentine experience, examining the extent to which trade imbalances in the 1990s resulted from income and relative price movements, as well as from shifts in foreign trade elasticities associated with structural changes. New estimates of export and import equations are presented using a broader set of variables than previous studies and distinguishing between intra and extra MERCOSUR trade. We find that considerable export sensitivity to world commodity prices, domestic absorption, and economic activity in Brazil, combined with a high income elasticity of imports, are key determinants of Argentina's trade balance. JEL classification codes: F11, F14, F31

show abstract

Section: B Estimation Issuesmentioning

confidence: 99%

Determinants of Argentina's External Trade

Catão

Falcetti

2002

Journal of Applied Economics

View full text Add to dashboard Cite

show abstract

“…where i is the nominal interest rate and is refered to as a rational error in forecasting the intertemporal marginal rate of substitution, but, as is acknowledged on page 127 of Ceglowski (1991), it also includes the error in using imports to proxy for consumption of foreign goods. To estimate (l/,) in (41), her equation 5, Ceglowski employs an instrumental variables procedure to correct for the correlation between the forecast error and the ex poet real interest rate.…”

Section: Concludins Remarksmentioning

confidence: 99%