Functional Form for United States - Mexico Trade Equations
Empirical trade equations estimated using aggregate data may impose ill- advised coefficient restrictions. Export demand equations are estimated using quarterly data for bilateral trade flows between the United States and Mexico. The sample period is 1981-1994. Right-hand-side variables include foreign prices, domestic prices, the exchange rate, and income. Estimation results indicate that merchandise exports react heterogeneously to variations in each of the three relative price components.
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