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| Author: | Appelbaum, E. Kohli, U. |
| Title: | Import price uncertainty and the distribution of income |
| Journal: | Review of Economics and Statistics
1997 : NOV, VOL. 79:4, p. 620-630 |
| Index terms: | STATISTICS PRICES UNCERTAINTY |
| Language: | eng |
| Abstract: | In this paper the authors estimate oil and nonoil import demand functions for the US under the assumption that import prices are uncertain. Both import demand functions are formally derived from an expected utility maximization problem, treating imports as inputs to the technology. The model allows us to test for risk aversion and to assess the impact of uncertainty on the volume of imports, gross output, and the distribution of income. |
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