| Autor: |
Marc Jim Mariano, Kenneth W. Clements, Long Hai Vo |
| Rok vydání: |
2021 |
| Předmět: |
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| Zdroj: |
Economic Modelling. 102:105590 |
| ISSN: |
0264-9993 |
| DOI: |
10.1016/j.econmod.2021.105590 |
| Popis: |
Import penetration has grown substantially in Australia over the past two decades. This study examines import penetration using a consumer demand approach that distinguishes domestically and foreign-produced varieties. The approach avoids restrictive assumptions such as homotheticity and permits an array of hypothesis tests of a functional form. This study uses an innovative procedure to estimate the model with a relative short time series, which is important for countries with limited data. We show how consistent aggregation leads to a macro-level import demand equation that faithfully reflects the underlying micro-demands. Surprisingly, income growth is mainly responsible for the surge in imports and not for their low cost. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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