In Search of the Armington Elasticity

• 成果类型: Article
• 署名作者: Feenstra, Robert C.; Luck, Philip; Obstfeld, Maurice; Russ, Katheryn N.
• 署名单位: University of California System; University of California Davis; National Bureau of Economic Research; University of Colorado System; University of Colorado Denver; University of California System; University of California Berkeley; Center for Economic & Policy Research (CEPR)
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00696
• 发表日期: 2018-03
• 页码: 135-150
• 关键词: INTERNATIONAL-TRADE; UNITED-STATES; IMPACT; substitutability; GLOBALIZATION; gravity; prices; GOODS; HOME

摘要

How big is the elasticity of substitution between goods from different countriesthe Armington elasticity? Estimates of the macroelasticity between home and imported goods are often smaller than the microelasticity between foreign sources of imports. Using new, highly disaggregate U.S. production data matched to imports and simulated data from a Melitz-style model with nested CES preferences, we explore estimation techniques for the two elasticities. For between two-thirds and three-quarters of sample goods, there is no significant difference between the macro- and microelasticities, but for the rest, the microelasticity is significantly higher, even at the same level of disaggregation.