Import demand in heterogeneous panel data with cross-sectional dependence
We investigate the long-run income and price elasticity of import demand functions with a heterogeneous unbalanced panel of 34 countries over the period 1985:q1-2018:q3. To estimate world elasticities the model is tested with the activity variables derived from the theoretical and empirical literatu...
Uloženo v:
| Vydáno v: | Applied economics Ročník 52; číslo 5; s. 443 - 458 |
|---|---|
| Hlavní autoři: | , |
| Médium: | Journal Article |
| Jazyk: | angličtina |
| Vydáno: |
London
Routledge
26.01.2020
Taylor & Francis Ltd |
| Témata: | |
| ISSN: | 0003-6846, 1466-4283 |
| On-line přístup: | Získat plný text |
| Tagy: |
Přidat tag
Žádné tagy, Buďte první, kdo vytvoří štítek k tomuto záznamu!
|
| Abstract | We investigate the long-run income and price elasticity of import demand functions with a heterogeneous unbalanced panel of 34 countries over the period 1985:q1-2018:q3. To estimate world elasticities the model is tested with the activity variables derived from the theoretical and empirical literature: GDP, GDP minus exports, Private Demand, Aggregate Domestic Demand, National Cash Flow, and Import intensity-Adjusted Demand (IAD). First, we evaluate time series properties using second generation panel unit root and cointegration tests. Second, we rely on the dynamic common correlated effects mean groups (CCEMG) estimator to deal with cross-sectional dependence (CSD). We find that the IAD, whose world elasticity is close to one, is the best performing specification. Our results confirm that the most appropriate activity variable to assess import demand should encompass intermediate goods as suggested by the recent literature on global supply chains. Moreover, we partially solve the puzzle of the recent trade slowdown since, taking stock of the role of intermediates, the time needed to resort to the long run equilibrium in the aftermath of a global turmoil is greater than that predicted by previous studies. |
|---|---|
| AbstractList | We investigate the long-run income and price elasticity of import demand functions with a heterogeneous unbalanced panel of 34 countries over the period 1985:q1-2018:q3. To estimate world elasticities the model is tested with the activity variables derived from the theoretical and empirical literature: GDP, GDP minus exports, Private Demand, Aggregate Domestic Demand, National Cash Flow, and Import intensity-Adjusted Demand (IAD). First, we evaluate time series properties using second generation panel unit root and cointegration tests. Second, we rely on the dynamic common correlated effects mean groups (CCEMG) estimator to deal with cross-sectional dependence (CSD). We find that the IAD, whose world elasticity is close to one, is the best performing specification. Our results confirm that the most appropriate activity variable to assess import demand should encompass intermediate goods as suggested by the recent literature on global supply chains. Moreover, we partially solve the puzzle of the recent trade slowdown since, taking stock of the role of intermediates, the time needed to resort to the long run equilibrium in the aftermath of a global turmoil is greater than that predicted by previous studies. |
| Author | Giansoldati, Marco Gregori, Tullio |
| Author_xml | – sequence: 1 givenname: Tullio orcidid: 0000-0002-5574-0829 surname: Gregori fullname: Gregori, Tullio email: tgregori@units.it organization: Department of Political and Social Sciences, University of Trieste – sequence: 2 givenname: Marco orcidid: 0000-0002-6458-766X surname: Giansoldati fullname: Giansoldati, Marco organization: Department of Economics, Business, Mathematics and Statistics "Bruno de Finetti", University of Trieste |
| BookMark | eNqFkF9LwzAUxYNMcJt-BKHgc2fStGmDL8rwz2Dgiz6HNLlxHW1Sk4yxb2_r5osP-nS5nN85HM4MTayzgNA1wQuCK3yLMaasytkiw4QvCMsLnudnaEpyxtI8q-gETUcmHaELNAthO7wko-UUrVZd73xMNHTS6qSxyQYiePcBFtwuJL200CZaRpnsm7hJlHchpAFUbJyVgwI9WA1WwSU6N7INcHW6c_T-9Pi2fEnXr8-r5cM6VXlZxJRAoTRkzEjFS1NXhBcgNaW8rmqtcwa8yoauhamZ5rygxoDmRGHCOKVmUObo5pjbe_e5gxDF1u380CWIjFLMMK3KcqDujtR3YQ9GqCbKsXT0smkFwWLcTvxsJ8btxGm7wV38cve-6aQ__Ou7P_oaa5zv5N75VosoD63zxkurmiDo3xFftvOH4w |
| CitedBy_id | crossref_primary_10_1016_j_inteco_2020_11_001 crossref_primary_10_3390_economies8040091 crossref_primary_10_3390_su16198723 crossref_primary_10_1007_s40953_024_00385_y crossref_primary_10_1080_00036846_2021_1998336 crossref_primary_10_1016_j_strueco_2023_03_008 crossref_primary_10_1007_s11205_025_03668_w crossref_primary_10_1038_s41598_025_86451_8 crossref_primary_10_1177_21582440251320239 crossref_primary_10_1016_j_resourpol_2023_103300 crossref_primary_10_3390_math12121788 |
| Cites_doi | 10.1257/mac.5.3.118 10.1016/j.jeconom.2015.03.007 10.2307/3867390 10.1177/1536867X0800800205 10.1111/j.1467-9396.2010.00865.x 10.1198/073500102317351921 10.1002/jae.2476 10.1162/REST_a_00593 10.1016/S0165-1765(98)00147-5 10.2307/2109783 10.1177/1536867X1801800306 10.1111/j.1468-0084.2012.00720.x 10.1016/0304-4076(94)01644-F 10.1080/07474938.2014.966635 10.1017/S0266466609990351 10.1016/S1043-951X(03)00021-X 10.1017/CCOL521633230.011 10.2307/134342 10.1002/jae.951 10.1016/j.jeconom.2013.02.001 10.1016/S0022-1996(00)00093-3 10.2307/2297968 10.1016/j.econlet.2017.06.012 10.1111/1467-9396.00161 10.1080/08853900490478131 10.1108/01443581311283989 10.1080/000368405002000345550 10.1016/j.jpolmod.2016.05.013 10.1111/j.1467-6419.2010.00624.x 10.1016/S0165-1765(01)00538-9 10.1111/1468-0262.00273 10.1111/j.1368-423X.2010.00330.x 10.1111/roie.12178 10.1093/jjfinec/nbm006 10.1016/S0261-5606(97)00057-0 10.1007/s10368-014-0273-z 10.1080/07474938.2014.976524 10.2307/1926720 10.1007/978-1-4757-3536-9 10.1080/07474930903382125 10.1016/S0165-1765(98)00052-4 10.2307/1913610 10.1002/jae.2348 10.1111/j.1468-0262.2006.00692.x 10.1002/jae.2475 10.1016/j.jeconom.2010.10.001 10.2307/3867574 10.1016/j.csda.2004.12.015 |
| ContentType | Journal Article |
| Copyright | 2019 Informa UK Limited, trading as Taylor & Francis Group 2019 2019 Informa UK Limited, trading as Taylor & Francis Group |
| Copyright_xml | – notice: 2019 Informa UK Limited, trading as Taylor & Francis Group 2019 – notice: 2019 Informa UK Limited, trading as Taylor & Francis Group |
| DBID | AAYXX CITATION 8BJ FQK JBE |
| DOI | 10.1080/00036846.2019.1645944 |
| DatabaseName | CrossRef International Bibliography of the Social Sciences (IBSS) International Bibliography of the Social Sciences International Bibliography of the Social Sciences |
| DatabaseTitle | CrossRef International Bibliography of the Social Sciences (IBSS) |
| DatabaseTitleList | International Bibliography of the Social Sciences (IBSS) |
| DeliveryMethod | fulltext_linktorsrc |
| Discipline | Economics |
| EISSN | 1466-4283 |
| EndPage | 458 |
| ExternalDocumentID | 10_1080_00036846_2019_1645944 1645944 |
| Genre | Article |
| GroupedDBID | -~X .7I .QK 0BK 0R~ 23M 2DF 3R3 4.4 5GY 5VS 6J9 8VB AABCJ AAGDL AAGZJ AAHIA AAMFJ AAMIU AAPUL AATTQ AAZMC ABFIM ABJNI ABLIJ ABLJU ABPEM ABXUL ABXYU ABZLS ACGFO ACGFS ACHQT ACNCT ACTIO ADAHI ADCVX ADKVQ ADLRE ADMHG ADXPE AECIN AEFOU AEGXH AEISY AEKEX AEMOZ AEOZL AEZRU AFRVT AGDLA AGMYJ AGRBW AHDZW AHQJS AIAGR AIJEM AIYEW AJWEG AKBVH AKVCP ALMA_UNASSIGNED_HOLDINGS ALQZU AQTUD AVBZW AWYRJ BEJHT BLEHA BMOTO BOHLJ CCCUG COF CQ1 CS3 DGFLZ DKSSO EBE EBO EBR EBS EBU EMK EOH EPL E~B E~C F5P FD6 G-F H13 HF~ HZ~ H~9 IPNFZ J.O K1G KYCEM L7B LJTGL M4Z NA5 NW~ O9- OFU P2P PQQKQ QWB RIG RNANH ROSJB RSYQP RWL S-F STATR TAE TASJS TBQAZ TDBHL TEK TFH TFL TFW TH9 TN5 TNTFI TRJHH TUROJ U5U UPT UT5 UT9 VAE WH7 ZL0 ~01 ~S~ AAYXX CITATION 8BJ FQK JBE |
| ID | FETCH-LOGICAL-c475t-1e5cde26fac97fb8195ead339b8bdd46e9820035fb6d9953ffed91c016933f003 |
| IEDL.DBID | TFW |
| ISICitedReferencesCount | 12 |
| ISICitedReferencesURI | http://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=Summon&SrcAuth=ProQuest&DestLinkType=CitingArticles&DestApp=WOS_CPL&KeyUT=000478551300001&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D |
| ISSN | 0003-6846 |
| IngestDate | Sat Nov 08 23:41:58 EST 2025 Sat Nov 29 03:08:20 EST 2025 Tue Nov 18 22:37:54 EST 2025 Mon Oct 20 23:48:54 EDT 2025 |
| IsDoiOpenAccess | false |
| IsOpenAccess | true |
| IsPeerReviewed | true |
| IsScholarly | true |
| Issue | 5 |
| Language | English |
| LinkModel | DirectLink |
| MergedId | FETCHMERGED-LOGICAL-c475t-1e5cde26fac97fb8195ead339b8bdd46e9820035fb6d9953ffed91c016933f003 |
| Notes | ObjectType-Article-1 SourceType-Scholarly Journals-1 ObjectType-Feature-2 content type line 14 |
| ORCID | 0000-0002-6458-766X 0000-0002-5574-0829 |
| OpenAccessLink | https://www.tandfonline.com/doi/full/10.1080/00036846.2019.1645944 |
| PQID | 2330603877 |
| PQPubID | 37902 |
| PageCount | 16 |
| ParticipantIDs | informaworld_taylorfrancis_310_1080_00036846_2019_1645944 crossref_citationtrail_10_1080_00036846_2019_1645944 crossref_primary_10_1080_00036846_2019_1645944 proquest_journals_2330603877 |
| PublicationCentury | 2000 |
| PublicationDate | 2020-01-26 |
| PublicationDateYYYYMMDD | 2020-01-26 |
| PublicationDate_xml | – month: 01 year: 2020 text: 2020-01-26 day: 26 |
| PublicationDecade | 2020 |
| PublicationPlace | London |
| PublicationPlace_xml | – name: London |
| PublicationTitle | Applied economics |
| PublicationYear | 2020 |
| Publisher | Routledge Taylor & Francis Ltd |
| Publisher_xml | – name: Routledge – name: Taylor & Francis Ltd |
| References | CIT0030 CIT0032 CIT0031 CIT0034 CIT0033 IMF (CIT0039) 2016 Hooper P. (CIT0036) 2000 CIT0038 CIT0037 CIT0041 CIT0042 CIT0001 Baldwin R. (CIT0008) 2009 CIT0045 CIT0002 CIT0005 CIT0004 CIT0048 CIT0007 CIT0006 CIT0009 CIT0050 CIT0051 CIT0054 CIT0053 CIT0012 Chenery H. (CIT0015) 1986 CIT0056 CIT0011 CIT0055 World Bank (CIT0068) 2019 Slopek U. (CIT0059) 2015 CIT0014 CIT0058 CIT0013 CIT0057 CIT0016 CIT0018 CIT0017 CIT0061 Clarida R. (CIT0019) 1994; 84 CIT0063 CIT0021 Jääskelä J. (CIT0040) 2015 Kohli U. (CIT0043) 1991 CIT0065 CIT0020 CIT0064 CIT0067 CIT0022 CIT0066 CIT0025 CIT0069 CIT0024 CIT0027 Söderbom M. (CIT0060) 2015 CIT0029 CIT0028 |
| References_xml | – ident: CIT0012 doi: 10.1257/mac.5.3.118 – ident: CIT0017 doi: 10.1016/j.jeconom.2015.03.007 – ident: CIT0058 doi: 10.2307/3867390 – volume-title: Global Trade: What’s behind the Slowdown? year: 2016 ident: CIT0039 – volume: 84 start-page: 298 issue: 1 year: 1994 ident: CIT0019 publication-title: American Economic Review – ident: CIT0050 doi: 10.1177/1536867X0800800205 – ident: CIT0029 doi: 10.1111/j.1467-9396.2010.00865.x – ident: CIT0061 doi: 10.1198/073500102317351921 – ident: CIT0007 doi: 10.1002/jae.2476 – ident: CIT0016 doi: 10.1162/REST_a_00593 – ident: CIT0004 doi: 10.1016/S0165-1765(98)00147-5 – ident: CIT0020 doi: 10.2307/2109783 – volume-title: Empirical Development Economics year: 2015 ident: CIT0060 – ident: CIT0025 doi: 10.1177/1536867X1801800306 – ident: CIT0028 doi: 10.1111/j.1468-0084.2012.00720.x – ident: CIT0056 doi: 10.1016/0304-4076(94)01644-F – ident: CIT0030 doi: 10.1080/07474938.2014.966635 – ident: CIT0067 doi: 10.1017/S0266466609990351 – ident: CIT0063 doi: 10.1016/S1043-951X(03)00021-X – ident: CIT0051 doi: 10.1017/CCOL521633230.011 – volume-title: Why Has the Income Elasticity of Global Trade Declined? year: 2015 ident: CIT0059 – ident: CIT0042 doi: 10.2307/134342 – ident: CIT0054 doi: 10.1002/jae.951 – ident: CIT0055 doi: 10.1016/j.jeconom.2013.02.001 – ident: CIT0038 doi: 10.1016/S0022-1996(00)00093-3 – ident: CIT0002 doi: 10.2307/2297968 – ident: CIT0033 doi: 10.1016/j.econlet.2017.06.012 – ident: CIT0014 doi: 10.1111/1467-9396.00161 – volume-title: World Development Indicators year: 2019 ident: CIT0068 – ident: CIT0064 doi: 10.1080/08853900490478131 – ident: CIT0005 doi: 10.1108/01443581311283989 – volume-title: Technology, Duality, and Foreign Trade year: 1991 ident: CIT0043 – ident: CIT0034 doi: 10.1080/000368405002000345550 – volume-title: Industrialization and Growth: A Comparative Study year: 1986 ident: CIT0015 – ident: CIT0024 doi: 10.1016/j.jpolmod.2016.05.013 – ident: CIT0027 doi: 10.1111/j.1467-6419.2010.00624.x – ident: CIT0069 doi: 10.1016/S0165-1765(01)00538-9 – ident: CIT0006 doi: 10.1111/1468-0262.00273 – ident: CIT0018 doi: 10.1111/j.1368-423X.2010.00330.x – ident: CIT0065 doi: 10.1111/roie.12178 – ident: CIT0066 doi: 10.1093/jjfinec/nbm006 – ident: CIT0001 doi: 10.1016/S0261-5606(97)00057-0 – ident: CIT0013 doi: 10.1007/s10368-014-0273-z – ident: CIT0011 doi: 10.1080/07474938.2014.976524 – volume-title: Trade Elasticities for G-7 Countries, Princeton Studies in International Economics N. 87 year: 2000 ident: CIT0036 – ident: CIT0037 doi: 10.2307/1926720 – ident: CIT0045 doi: 10.1007/978-1-4757-3536-9 – ident: CIT0031 doi: 10.1080/07474930903382125 – ident: CIT0021 doi: 10.1016/S0165-1765(98)00052-4 – ident: CIT0048 doi: 10.2307/1913610 – volume-title: The Great Trade Collapse: Causes, Consequences and Prospects year: 2009 ident: CIT0008 – ident: CIT0009 doi: 10.1002/jae.2348 – ident: CIT0053 doi: 10.1111/j.1468-0262.2006.00692.x – ident: CIT0032 doi: 10.1002/jae.2475 – ident: CIT0041 doi: 10.1016/j.jeconom.2010.10.001 – ident: CIT0057 doi: 10.2307/3867574 – ident: CIT0022 doi: 10.1016/j.csda.2004.12.015 – start-page: 39 year: 2015 ident: CIT0040 publication-title: Reserve Bank of Australia Bulletin |
| SSID | ssj0001237 |
| Score | 2.3214855 |
| Snippet | We investigate the long-run income and price elasticity of import demand functions with a heterogeneous unbalanced panel of 34 countries over the period... |
| SourceID | proquest crossref informaworld |
| SourceType | Aggregation Database Enrichment Source Index Database Publisher |
| StartPage | 443 |
| SubjectTerms | Aftermath Cash flow CCEMG Cointegration analysis Economic analysis Economic models Economic theory Exports F69; C33; C52 GDP Gross Domestic Product Heterogeneity IAD import income elasticity import price elasticity Imports Income International trade Literature Longitudinal studies Panel data Price elasticity Property Purchasing power parity Second generation Specification Supply Time series World import function |
| Title | Import demand in heterogeneous panel data with cross-sectional dependence |
| URI | https://www.tandfonline.com/doi/abs/10.1080/00036846.2019.1645944 https://www.proquest.com/docview/2330603877 |
| Volume | 52 |
| WOSCitedRecordID | wos000478551300001&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D |
| hasFullText | 1 |
| inHoldings | 1 |
| isFullTextHit | |
| isPrint | |
| journalDatabaseRights | – providerCode: PRVAWR databaseName: Taylor & Francis Online Journals customDbUrl: eissn: 1466-4283 dateEnd: 99991231 omitProxy: false ssIdentifier: ssj0001237 issn: 0003-6846 databaseCode: TFW dateStart: 19690101 isFulltext: true titleUrlDefault: https://www.tandfonline.com providerName: Taylor & Francis |
| link | http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwrV3NS8MwFA8yBL34LU6n5OC1s22ytDmKOBzI8DB1t9DmAwezk6Xz7zcv_cAhsoOey0vbl19e8pJffg-ha4fZWKUuO6FS0YBqJgMecodlE0d5yCXNvajPy2MyHqfTKX-q2YS2plVCDm0qoQgfq2FwZ7ltGHE3XkTFzZtAzOL9CORQKCiCupU9kPomw9c2Fru4nDQ188CkucPzWytrs9OadumPWO0noOH-P3z6AdqrV5_4toLLIdrSxRHaaS4n22M0GoFSVYmVfnfvwLMCvwFfZuFgphcri13s0HMMtFIMO7jY_0ZgPZ8LWm5q6kp9gp6H95O7h6CuthBImgzKINIDqXTMTCZ5YnI4X3MoI4Tnaa4UZZqnXj3V5ExxPiDGaMUj6dVciHFPTlGnWBT6DGHCmIJwkGQgJcNolhKWMePgolToVnBdRBsvC1lLkUNFjLmIWsXSyk8C_CRqP3VRvzX7qLQ4Nhnw710oSr8JYqqKJYJssO01_S3qYW1FTFyGBQf-yfkfmr5AuzFk7WEUxKyHOuVypS_RtvwsZ3Z55QH8BV3V6ew |
| linkProvider | Taylor & Francis |
| linkToHtml | http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwrV3dT8IwEG8UTfDFbyOK2gdfh2wt3fpojAQi8oTKW7P1I5LgMGz499vrNgIxhgd9Xu62XX-99q7X3yF0azEbqMhGJ1Qq6lHNpMfb3GLZBH7S5pImjtTndRAOh9F4zFfvwkBZJcTQpiCKcL4aJjcko6uSuDvHomIXTqjM4i0f-FAo3UY70J0OArBR923pja1nDquueSBT3eL5Tc3a-rTGXvrDW7slqHvwHx9_iPbLDSi-LxBzhLZ0eozq1f3k7AT1-0BWlWOlP-xL8CTF71AyM7NI07NFhq370FMMlaUYkrjY_YeXuZIu0Fy11ZX6FL10H0cPPa9suOBJGnZyz9cdqXTATCx5aBI4YrNAI4QnUaIUZZpHjkDVJExx3iHGaMV96QhdiLFPzlAtnaX6HGHCmAKPEMbAJsNoHBEWM2MRo1TbbuIaiFZmFrJkI4emGFPhL0lLCzsJsJMo7dRAraXYZ0HHsUmAr46hyF0exBRNSwTZINusBlyUMzsTAbFBFpz5hxd_UH2D6r3R80AM-sOnS7QXQBDf9r2ANVEtny_0FdqVX_kkm187NH8DLhnuDw |
| linkToPdf | http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwrV07T8MwELagIGDhjSgU8MAayMNx4hEBFRVV1aFANyvxQ1QqadWk_H58TlJRIdQB5uic5Pz57LM_f4fQtcGsL2OTnRAhiUMUFQ5zmcGy9r3UZYKkVtTntRv1evFwyPoVmzCvaJWQQ-tSKMLGahjcU6lrRtytFVEx8yYQs9iNB3IohKyjDbN0DgHYg_bbIhibwBzVRfPApr7E81szS9PTknjpj2BtZ6D23j98-z7arZaf-K7EywFaU9kh2q5vJ-dHqNMBqaoCS_Vh3oFHGX4HwszE4ExN5jk2wUONMfBKMWzhYvsbTm4JXdByXVRXqGP00n4c3D85VbkFR5AoLBxPhUIqn-pEsEincMBmYBYELI1TKQlVLLbyqTqlkrEw0FpJ5gkr5xJo8-QENbJJpk4RDiiVEA-iBLRkKEnigCZUG7xI6ZolXBOR2stcVFrkUBJjzL2FZGnpJw5-4pWfmuhmYTYtxThWGbDvXcgLuwuiy5IlPFhh26r7m1fjOud-YFIsOPGPzv7Q9BXa6j-0ebfTez5HOz5k8K7n-LSFGsVsri7QpvgsRvns0mL5C2O87ME |
| openUrl | ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Import+demand+in+heterogeneous+panel+data+with+cross-sectional+dependence&rft.jtitle=Applied+economics&rft.au=Gregori%2C+Tullio&rft.au=Giansoldati%2C+Marco&rft.date=2020-01-26&rft.issn=0003-6846&rft.eissn=1466-4283&rft.volume=52&rft.issue=5&rft.spage=443&rft.epage=458&rft_id=info:doi/10.1080%2F00036846.2019.1645944&rft.externalDBID=n%2Fa&rft.externalDocID=10_1080_00036846_2019_1645944 |
| thumbnail_l | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/lc.gif&issn=0003-6846&client=summon |
| thumbnail_m | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/mc.gif&issn=0003-6846&client=summon |
| thumbnail_s | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/sc.gif&issn=0003-6846&client=summon |