{
  "title": "Time-Series Estimation of Structural Import Demand Equations: A Cross-Country Analysis",
  "publication": "IMF Working Papers, October 1, 1997",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/time-series-estimation-of-structural-import-demand-equations-a-cross-country-analysis-2366",
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  "summary": "This paper derives a structural import demand equation and estimates it for a large number of countries, using recent time series techniques that address the problem of nonstationarity.",
  "sections": [
    {
      "heading": "Objective and approach",
      "content": "- Derives a structural import demand equation and estimates it for a large number of countries.\n- Employs recent time series techniques that address the problem of nonstationarity.\n- Uses Monte Carlo methods to derive small-sample properties of estimators because econometric theory provides only asymptotic properties."
    },
    {
      "heading": "Estimators compared",
      "content": "- Ordinary-least-squares (OLS)\n- Fully-modified (FM)"
    },
    {
      "heading": "Key findings",
      "content": "- FM dominates OLS for both the short-run elasticities and the long-run elasticities.\n- Small-sample properties of both OLS and FM are derived via Monte Carlo simulation (no asymptotic-only reliance)."
    },
    {
      "heading": "Thematic scope and keywords",
      "content": "- Subjects: Foreign exchange, Import prices, Imports, International trade, National accounts, Personal income, Price elasticity, Prices, Real exchange rates\n- Keywords: Africa, Cointegration, dependent variable, import demand elasticity estimate, import demand equation, Import prices, Imports, Income and Price Elasticities, income elasticity, long-run elasticity, Monte Carlo Methods, Personal income, Price elasticity, Real exchange rates, Structural Import Demand, t-statistic distribution, WP\n\n---\n\n Content in this bundle\n\n- Time-Series Estimation of Structuaral Import Demand Equations: A Cross-Country Analysis -WP/97/132\n  - Time-Series Estimation of Structuaral Import Demand Equations: A Cross-Country Analysis -WP/97/132 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Time-Series Estimation of Structuaral Import Demand Equations: A Cross-Country Analysis -WP/97/132 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/time-series-estimation-of-structural-import-demand-equations-a-cross-country-analysis-2366"
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    "Authors: Abdelhak S Senhadji",
    "Published: October 1, 1997",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451855340.001",
    "Derives a structural import demand equation and estimates it for a large number of countries.",
    "Employs recent time series techniques that address the problem of nonstationarity.",
    "Uses Monte Carlo methods to derive small-sample properties of estimators because econometric theory provides only asymptotic properties.",
    "Ordinary-least-squares (OLS)",
    "Fully-modified (FM)",
    "FM dominates OLS for both the short-run elasticities and the long-run elasticities.",
    "Small-sample properties of both OLS and FM are derived via Monte Carlo simulation (no asymptotic-only reliance).",
    "Subjects: Foreign exchange, Import prices, Imports, International trade, National accounts, Personal income, Price elasticity, Prices, Real exchange rates",
    "Keywords: Africa, Cointegration, dependent variable, import demand elasticity estimate, import demand equation, Import prices, Imports, Income and Price Elasticities, income elasticity, long-run elasticity, Monte Carlo Methods, Personal income, Price elasticity, Real exchange rates, Structural Import Demand, t-statistic distribution, WP",
    "**Time-Series Estimation of Structuaral Import Demand Equations: A Cross-Country Analysis -WP/97/132**"
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