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Import Demand with Product Differentiation: Disaggregated Estimation of Italian Sectoral Elasticities

This paper estimates sectoral demand functions for Italian imports from European Union countries, Japan, Canada and United States. Evidence of two-way flows and product differentiation is an accepted regularity of international trade. We have tried to include considerations of differentiation in the analysis. Starting from very disaggregated bilateral trade data (5 digit Sitc Rev. 3) we have classified each flow as homogeneous, quality differentiated or non-quality differentiated. Then we have used this classification in the estimate of sectoral import functions. That should increase precision, because avoids pooling homogeneous and differentiated goods in estimation. Our results suggest a very dynamic reaction of Italian imports in many sectors, pointing to possible competitive problems for firms and trade balance constraint for the country.

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File URL: ftp://ftp.unibocconi.it/pub/RePEc/cri/papers/wp113.pdf
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Paper provided by KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy in its series KITeS Working Papers with number 113.

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Length: 22 pages
Date of creation: Jul 2000
Date of revision: Jul 2000
Handle: RePEc:cri:cespri:wp113
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  1. Khan, Mohsm S. & Ross, Knud Z., 1977. "The functional form of the aggregate import demand equation," Journal of International Economics, Elsevier, vol. 7(2), pages 149-160, May.
  2. Greenaway, David & Torstensson, Johan, 2000. "Economic Geography, Comparative Advantage and Trade within Industries: Evidence from the OECD," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 15, pages 260-280.
  3. Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
  4. Lancaster, Kelvin, 1980. "Intra-industry trade under perfect monopolistic competition," Journal of International Economics, Elsevier, vol. 10(2), pages 151-175, May.
  5. Goldstein, Morris & Khan, Mohsin S., 1985. "Income and price effects in foreign trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 20, pages 1041-1105 Elsevier.
  6. Peter Hooper & Karen Johnson & Jaime Marquez, 1998. "Trade elasticities for G-7 countries," International Finance Discussion Papers 609, Board of Governors of the Federal Reserve System (U.S.).
  7. Thursby, Jerry G & Thursby, Marie C, 1984. "How Reliable Are Simple, Single Equation Specifications of Import Demand?," The Review of Economics and Statistics, MIT Press, vol. 66(1), pages 120-28, February.
  8. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
  9. David Greenaway & Robert Hine & Chris Milner, 1994. "Country-specific factors and the pattern of horizontal and vertical intra-industry trade in the UK," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 130(1), pages 77-100, March.
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