The elasticity of Substitution in demand for Non tradable Goods in Latin America. Case Study: Argentina

Pablo Neumeyer and Martin Gonzalez-Rozada

Department of Economics Working Papers from Universidad Torcuato Di Tella

Abstract: This objective of this paper is to estimate the elasticity of substitution in the demand for non-tradable goods relative to tradable goods in Argentina. This parameter plays a crucial role in the analysis of the macroeconomic equilibrium of a small open economy (Mendoza, Galindo and Izquierdo (2003)). Using two data sets we found estimates for this elasticity of, approximately, 0.40 and 0.48.

Pages: 24 pages
Date: 2003-11
New Economics Papers: this item is included in nep-lam
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Persistent link: https://EconPapers.repec.org/RePEc:udt:wpecon:027

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