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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Econometric estimation of Armington import elasticities and their system-wide impact in a regional CGE model of the Illinois economy
Authors: Ha, Soo Jung
Turner, Karen
Hewings, Geoffrey
McGregor, Peter G
Swales, J Kim
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Keywords: CGE models
Input–output tables
Parameter estimates
Regional modeling
Armington import elasticities
Issue Date: Mar-2012
Publisher: Taylor & Francis (Routledge)
Citation: Ha SJ, Turner K, Hewings G, McGregor PG & Swales JK (2012) Econometric estimation of Armington import elasticities and their system-wide impact in a regional CGE model of the Illinois economy, Economic Systems Research, 24 (1), pp. 1-19.
Series/Report no.: Stirling Economics Discussion Paper, 2010-19
Abstract: One of the main concerns associated with the development and use of regional CGE models is the determination of key parameter values, particularly substitution and other price elasticities. A common problem is the lack of appropriate regional data for econometric estimation. Consequently, it is important to identify key parameters that are likely to be important in determining quantitative results and then to prioritize these for estimation where appropriate data are available. In this paper, the focus is on the estimation of the regional trade (import) substitution parameters, which tend to be important in analysis for regional economies (given their openness to trade). Here, commodity import elasticities for the Illinois economy are estimated and tested in a single region CGE model of the Illinois economy. In our econometric estimation, we apply a model that takes account of market size and distance in estimating the substitutability between commodities produced in Illinois and other US states.
Type: Journal Article
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Rights: This item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. This is an electronic version of an article published in Economic Systems Research, Volume 24, Issue 1, 2012, pp. 1-19. Economic Systems Research is available online at:
Affiliation: Korean Research Institute for Human Settlements
Univeristy of Illinois
University of Strathclyde
University of Strathclyde

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