The Elasticity of Substitution in Demand for Non-Tradable Goods in Latin America: The Case of Argentina
AbstractThe objective of this paper is to estimate the elasticity of substitution in the demand for non-tradable goods relative to tradable goods in Argentina. This parameter plays a crucial role in the analysis of the macroeconomic equilibrium of a small open economy (Mendoza, Galindo and Izquierdo, 2003). Using two data sets, estimates of approximately 0. 40 and 0. 48, respectively, are found for this elasticity.
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Bibliographic InfoPaper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 3179.
Date of creation: Aug 2004
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