Elasticity Optimism

On average, estimates of trade elasticities are smaller in aggregate data than at sector level. This is an artifact of aggregation. Estimations performed on aggregate data constrain sector elasticities to homogeneity, which creates a heterogeneity bias. The paper shows such a bias exists in two prom...

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Veröffentlicht in:	American economic journal. Macroeconomics 2015-07, Vol.7 (3), p.43-83
Hauptverfasser:	Imbs, Jean, Mejean, Isabelle
Format:	Artikel
Sprache:	eng
Schlagworte:	Aggregates Bias Economic models Economic statistics Economic theory Economics Elasticity Elasticity of demand Estimates Estimation bias Global economy Imports International trade Macroeconomics Microeconomics Optimism Price elasticity Studies Tariffs Trade
Online-Zugang:	Volltext
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