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The price elasticity of external demand: how does Portugal compare with other euro area countries?

  • Sónia Cabral
  • Cristina Manteu

This paper estimates the price elasticity of external demand of Portuguese exports in the period 1995-2009 and compares it with those of other euro area countries. This proxy of the export price elasticity is computed as a weighted average of the import demand elasticities in each individual country-product destination market, using the elasticities of substitution across imported varieties of Broda et al. (2006). Overall, Portugal tends to export to individual markets which have, on average, a lower price elasticity than the markets where other euro area countries export to. Therefore, the product and geographical composition of Portuguese exports reduces their exposure to relative price fluctuations.

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File URL: http://www.bportugal.pt/en-US/BdP%20Publications%20Research/wp201127.pdf
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Paper provided by Banco de Portugal, Economics and Research Department in its series Working Papers with number w201127.

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Date of creation: 2011
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Handle: RePEc:ptu:wpaper:w201127
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  1. João Amador & Luca David Opromolla, 2009. "Textiles and Clothing Exporting Sectors in Portugal - Recent Trends," Economic Bulletin and Financial Stability Report Articles, Banco de Portugal, Economics and Research Department.
  2. Robert C. Feenstra & Philip A. Luck & Maurice Obstfeld & Katheryn N. Russ, 2014. "In Search of the Armington Elasticity," NBER Working Papers 20063, National Bureau of Economic Research, Inc.
  3. Christian Broda & Joshua Greenfield & David Weinstein, 2006. "From Groundnuts to Globalization: A Structural Estimate of Trade and Growth," NBER Working Papers 12512, National Bureau of Economic Research, Inc.
  4. João Amador & Sónia Cabral & José R. Maria, 2007. "International Trade Patterns over the Last Four Decades: How does Portugal Compare with other Cohesion Countries?," Working Papers w200714, Banco de Portugal, Economics and Research Department.
  5. McDaniel, Christine A. & Balistreri, Edward J., 2002. "A Discussion on Armington Trade Substitution Elasticities," Working Papers 15856, United States International Trade Commission, Office of Economics.
  6. João Amador & Sónia Cabral, 2008. "The Portuguese Export Performance in Perspective: A Constant Market Share Analysis," Economic Bulletin and Financial Stability Report Articles, Banco de Portugal, Economics and Research Department.
  7. Alberto Felettigh & Stefano Federico, 2011. "Measuring the price elasticity of import demand in the destination markets of italian exports," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2011(1), pages 127-162.
  8. Blonigen, Bruce A. & Soderbery, Anson, 2010. "Measuring the benefits of foreign product variety with an accurate variety set," Journal of International Economics, Elsevier, vol. 82(2), pages 168-180, November.
  9. João Amador & Sónia Cabral, 2009. "Portuguese International Trade in Services," Economic Bulletin and Financial Stability Report Articles, Banco de Portugal, Economics and Research Department.
  10. Paulo Soares Esteves & Sónia Cabral, 2006. "Portuguese Export Market Shares: An Analysis by Selected Geographical and Product Markets," Economic Bulletin and Financial Stability Report Articles, Banco de Portugal, Economics and Research Department.
  11. Gaulier, Guillaume & Zignago, Soledad, 2004. "Notes on BACI (analytical database of international trade). 1989-2002 version," MPRA Paper 32401, University Library of Munich, Germany.
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