Investigating the asymptotic properties of import elasticity estimates
AbstractFeenstra (1994) is widely implemented in international trade to estimate elasticities of substitution. Through a Monte Carlo experiment, simulated estimates suggest substantial biases due to weak instruments. However, the derivation of the elasticity of substitution drastically mitigates these biases.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 109 (2010)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/ecolet
Import elasticity Monte Carlo Instrumental variables;
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