The Production Theory Approach to Import Demand Analysis: A Comparison of the Rotterdam Model and the Differential Production Approach

Andrew A. Washington and Richard L. Kilmer
Authors registered in the RePEc Author Service: Andrew Muhammad

Journal of Agricultural and Applied Economics, 2002, vol. 34, issue 3, 431-443

Abstract: Results indicate that, when comparing the unconditional derived-demand elasticities to the unconditional consumer demand elasticities, significant differences emerge due to the differences in the first-stage estimation procedure between the differential production approach and the Rotterdam model. In comparing the consumer demand price/cross-price elasticities to the derived-demand price/cross-price elasticities, it is clear that use of the Rotterdam model when a production approach should be used can lead to overestimation, underestimation, and incorrect signs in deriving unconditional price effects.

Date: 2002
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Journal Article: THE PRODUCTION THEORY APPROACH TO IMPORT DEMAND ANALYSIS: A COMPARISON OF THE ROTTERDAM MODEL AND THE DIFFERENTIAL PRODUCTION APPROACH (2002)
Working Paper: THE PRODUCTION THEORY APPROACH TO IMPORT DEMAND ANALYSIS: A COMPARISON OF THE ROTTERDAM MODEL AND THE DIFFERENTIAL PRODUCTION APPROACH (2000)
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