G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11855
DP11855 The International Elasticity Puzzle Is Worse Than You Think
Philippe Martin; Lionel Fontagné; Gianluca Orefice
发表日期2017-02-15
出版年2017
语种英语
摘要We estimate three international price elasticities using exporters data: the elasticity of firm exports to export price, tariff and real exchange rate shocks. In standard trade and international macroeconomics models these three elasticities should be equal. We find that this is far from being the case. We use French firm level electricity costs to instrument for export prices and provide a first estimate of the elasticity of firm-level exports to export prices. The elasticity of exports is highest, around 5, for export prices followed by tariffs, around 2, and is lowest for the real exchange rate, around 0.6. The large discrepancy between these elasticities makes us conclude that the international elasticity puzzle is actually worse than previously thought. Moreover, we show that because exporters absorb part of tariffs and exchange rate movements, estimates of export elasticities that do not take into account export prices are biased.
主题International Macroeconomics and Finance ; International Trade and Regional Economics
关键词International elasticity puzzle Export prices
URLhttps://cepr.org/publications/dp11855
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/540668
推荐引用方式
GB/T 7714
Philippe Martin,Lionel Fontagné,Gianluca Orefice. DP11855 The International Elasticity Puzzle Is Worse Than You Think. 2017.
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