Import-Price Uncertainty, Production Decisions, and Relative Factor Shares

Elie Appelbaum and Ulrich Kohli

Working Papers from York University, Department of Economics

Abstract: The effects of import-price uncertainty on factor income in Switzerland are estimated. The production-theory approach is used to derive the import demand function from an expected utility maximization problem, treating imports as an input to the technology. The model is also used to test for risk aversion and to assess the impact of uncertainty on the volume of imports and gross output. Evidence is found that, for most years, labor has been relatively more vulnerable to uncertainty than has capital.

Pages: 16 pages
Date: 1997
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http://onlinelibrary.wiley.com/doi/10.1111/1467-9396.00108/full

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Journal Article: Import-Price Uncertainty, Production Decisions, and Relative Factor Shares (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:yca:wpaper:1997_4

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