A General Equilibrium Perspective of Aggregate Import Demand

Tuck Cheong Tang ()

No 06-13, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: This study extends the analytical framework for the specification of import demand behaviour from the conventional partial equilibrium to a general equilibrium perspective. This perspective emphasises the macro dimension of import demand and the potential influence of financial factors. Two new structural import demand equations are developed: (1) one specification utilises the macroeconomic income-expenditure relationships in the goods market; and (2) the second specification utilises the portfolio balance approach to capture financial market developments.

Keywords: Aggregate import demand; General equilibrium perspective; Income-expenditure equilibrium; Portfolio balance (search for similar items in EconPapers)
JEL-codes: E1 F4 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2013-05
New Economics Papers: this item is included in nep-mac
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