Demand and Supply of Aggregate Exports of Goods and Services: Multivariate Cointegration Analyses for the United States, Canada, and Germany (Kiel

Demand and Supply of Aggregate Exports of Goods and Services: Multivariate Cointegration Analyses for the United States, Canada, and Germany (Kiel

ISBN: 9783540222941
Publisher: Springer
Edition: 2004
Publication Date: 2004-12-22
Number of pages: 246
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DESCRIPTION

In this book export demand and supply are modeled simultaneously using a new proxy for globalization. Empirical estimates for the United States, Canada, and Germany show that the countries differ as to the price elasticities of demand and supply and the effects of globalization. However, the elasticity of exports to world production equals unity throughout, which is in line with constant returns to scale, but lower than the values found in previous studies that do not distinguish between growth and globalization. 

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