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| Author: | Amano, R. Wirjanto, T. |
| Title: | Adjustment costs and import demand behavior: evidence from Canada and the United States |
| Journal: | Journal of International Money and Finance
1997 : JUN, VOL. 16:3, p. 461-476 |
| Index terms: | FINANCE ADJUSTMENT COSTS CANADA USA |
| Language: | eng |
| Abstract: | In this paper, the authors examine whether adjustment costs are a significant source of the observed sluggish adjustment of Canadian and US import demand. The authors use a simple model of a utility maximizing domestic consumer under the assumption of integrated forcing variables to examine the importance of adjustment costs. This formulation of the problem allows the authors to exploit the recently developed theory of cointegration to estimate the structural parameters of the model using a two-step methodology. |
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