Import-Price Uncertainty, Production Decisions, and Relative Factor Shares
The effects of import-price uncertainty on factor income in Switzerland are estimated. The production-theory approach is used to derive the import demand function from an expected utility maximization problem, treating imports as an input to the technology. The model is also used to test for risk aversion and to assess the impact of uncertainty on the volume of imports and gross output. Evidence is found that, for most years, labor has been relatively more vulnerable to uncertainty than has capital.
|Date of creation:||1997|
|Date of revision:|
|Contact details of provider:|| Postal: 4700 Keele Street, Toronto, Ontario, M3J 1P3|
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Web page: http://dept.econ.yorku.ca/
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- Stuart Glosser & Lonnie Golden, 2005. "Is labour becoming more or less flexible? Changing dynamic behaviour and asymmetries of labour input in US manufacturing," Cambridge Journal of Economics, Oxford University Press, vol. 29(4), pages 535-557, July.
- Alan Woodland & Kishti Sen, 2010. "The volatility of Australian traded goods' prices," Applied Economics, Taylor & Francis Journals, vol. 42(30), pages 3849-3869.
- Elie Appelbaum & Alan D. Woodland, 2008.
"The Effects of Foreign Price Uncertainty on Australian Production and Trade,"
2008_03, York University, Department of Economics.
- Elie Appelbaum & Alan D. Woodland, 2010. "The Effects of Foreign Price Uncertainty on Australian Production and Trade," The Economic Record, The Economic Society of Australia, vol. 86(273), pages 162-177, 06.
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