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| Tekijä: | Clarida, R. |
| Otsikko: | Cointegration,aggregate consumption, and the demand for imports: a structural economic investigation |
| Lehti: | American Economic Review
1994 : MAR, VOL. 84:1, p. 298-308 |
| Asiasana: | DEMAND COINTEGRATION CONSUMPTION |
| Kieli: | eng |
| Tiivistelmä: | Employing a two-good version of the rational-expectations permanent-income model, this paper derives a structural econometric equation that can be used to estimate the parameters of the demand for imported nondurable consumer goods. With strongly separable, addilog preferences, the log of the demand for imported goods is shown to be linear in the log of the relative price of imports , the log of the consumption of domestically produced varieties, and the log of an unobservable shock to tastes. |
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