A simple method of estimating price elasticities in international trade

  • Clements K
  • Theil H
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Abstract

The differential production theory approach is applied to world trade matrices of 1971 and 1975, which yields a price elasticity estimate of the demand for foreign food of about -0.7. The elasticity estimates for raw material and manufactures are both between -0.3 and -0.4. © 1978.

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Authors

  • Kenneth W. Clements

  • Henri Theil

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