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EXPORT DEMAND ELASTICITIES WITH LESS THAN PERFECT MARKETS

EXPORT DEMAND ELASTICITIES WITH LESS THAN PERFECT MARKETS Australian Journal of Agricultural Economics, Vol. 23, No. 1 (April 1979), pp. 69-72. EXPORT DEMAND ELASTICITIES WITH LESS THAN PERFECT MARKETS M. R. CRONIN Industries Assistance Commission Quantification of the elasticity of export demand for a given com- modity from a single country is of importance in analysis of commodity of a general equilibrium model trade policies and in the construction for the exporting coun’try. The art of deriving estimates of the export demand elasticity from empirical estimates of consumption demand elasticities and production supply elasticities has been obscured by some theoretical confusion. This confusion might arise from the excessive attention (e.g. Butler and Saad 1974) given to the special case of (1) %a = O(C/Xa), where ure is the export demand elasticity facing country a for a particular commodity, YI is the consumption demand elasticity in the rest of the world, and X,/C is the share of the world market held by exports from country a. The preceding result is conditional on there being: (a) no supply response from competing producer countries; (b) no product differentiation, so that exports from a are perfect physical substitutes for all versions of the commodity from all sources ; (c) no intervention http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

EXPORT DEMAND ELASTICITIES WITH LESS THAN PERFECT MARKETS

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Publisher
Wiley
Copyright
Copyright © 1979 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.1979.tb00231.x
Publisher site
See Article on Publisher Site

Abstract

Australian Journal of Agricultural Economics, Vol. 23, No. 1 (April 1979), pp. 69-72. EXPORT DEMAND ELASTICITIES WITH LESS THAN PERFECT MARKETS M. R. CRONIN Industries Assistance Commission Quantification of the elasticity of export demand for a given com- modity from a single country is of importance in analysis of commodity of a general equilibrium model trade policies and in the construction for the exporting coun’try. The art of deriving estimates of the export demand elasticity from empirical estimates of consumption demand elasticities and production supply elasticities has been obscured by some theoretical confusion. This confusion might arise from the excessive attention (e.g. Butler and Saad 1974) given to the special case of (1) %a = O(C/Xa), where ure is the export demand elasticity facing country a for a particular commodity, YI is the consumption demand elasticity in the rest of the world, and X,/C is the share of the world market held by exports from country a. The preceding result is conditional on there being: (a) no supply response from competing producer countries; (b) no product differentiation, so that exports from a are perfect physical substitutes for all versions of the commodity from all sources ; (c) no intervention

Journal

The Australian Journal of Agricultural Resource Economics – Wiley

Published: Apr 1, 1979

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