Arbeitspapier
Import Price Formation and Pricing to Market: A Test on Norwegian Data
This paper investigates the determinants of Norwegian import prices of manufactures over the period 1970(1) - 1991(4). Multivariate cointegration analysis establishes a long-run relationship between import prices, foreign prices, the exchange rate and domestic unit labour costs. Normalized on import prices, the long-run elasticities are 0.63 (foreign prices and the exchange rate) and 0.37 (domestic costs). Deviations from this relationship are highly significant in a structural import price equation, which also contains positive effects of growth in domestic demand and inflation, as well as a negative effect from the Norwegian unemployment rate. The estimated parameters appear reasonably stable within the sample.
- Language
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Englisch
- Bibliographic citation
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Series: Discussion Papers ; No. 157
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Model Construction and Estimation
Model Evaluation, Validation, and Selection
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Market Structure, Pricing, and Design: General
Open Economy Macroeconomics
Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices
pricing to market
domestic effects
Johansen procedure
structural error correction model
super exogeneity.
Nymoen, Ragnar
- Handle
- Last update
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20.09.2024, 8:23 AM CEST
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Naug, Bjørn E.
- Nymoen, Ragnar
- Statistics Norway, Research Department
Time of origin
- 1995