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Estimates of U.S. Regional Commodity Trade Elasticities of Substitution

  • Bilgic, Abdulbaki
  • King, Stephen A.
  • Lusby, Aaron K.
  • Schreiner, Dean F.
Registered author(s):

    Countries and regions within countries frequently import and export from the same standard industrial classification (SIC) groupings. In describing international trade, the Armington assumption recognizes that imported goods may substitute imperfectly for domestically produced goods. Imports and domestically produced goods may differ in quality or composition. Elasticities of import substitution have been extensively estimated for international trade but limited information is available on elasticities of substitution for regional imports. One h ypothesis in the literature is that international trade elasticities should be considered as lower bounds for regional trade elasticities presumably because of fewer non-price trade restrictions. This research estimates regional elasticities of import substitution for 20 two-digit groupings using commodity trade date in the U.S. The range in elasticities is from 0.45 to 2.80 depending on the characteristics of the SIC grouping. These results tend to refute the hypothesis that international trade elasticities are lower bounds for regional trade elasticities for comparable goods.

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    File URL: http://purl.umn.edu/132238
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    Article provided by Mid-Continent Regional Science Association in its journal Journal of Regional Analysis and Policy.

    Volume (Year): 32 (2002)
    Issue (Month): 2 ()
    Pages:

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    Handle: RePEc:ags:jrapmc:132238
    Contact details of provider: Web page: http://jrap-journal.org/index.htm

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    1. Mark D. Partridge & Dan S. Rickman, 1998. "Regional Computable General Equilibrium Modeling: A Survey and Critical Appraisal," International Regional Science Review, , vol. 21(3), pages 205-248, December.
    2. Reinert, Kenneth A. & Roland-Holst, David W., 1992. "Armington elasticities for United States manufacturing sectors," Journal of Policy Modeling, Elsevier, vol. 14(5), pages 631-639, October.
    3. Ricardo C. Gazel, 1996. "Free trade agreements and interregional labor migration: the case of the U.S. and Canada," The Annals of Regional Science, Springer, vol. 30(4), pages 373-390.
    4. Clinton R. Shiells & Kenneth A. Reinert, 1993. "Armington Models and Terms-of-Trade Effects: Some Econometric Evidence for North America," Canadian Journal of Economics, Canadian Economics Association, vol. 26(2), pages 299-316, May.
    5. Vargas, Eliecer E. & Shreiner, Dean F., 1999. "Modeling Monopsony Markets With Regional CGE: The Oklahoma Forest Products Industry Case," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 29(2).
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