Distribution capital and the short- and long-run import demand elasticity∗

Abstract

The elasticity of substitution between home and foreign goods is one of the most important parameters in international economics. The international macro literature, which is primarily concerned with short-run business cycle fluctuations, assigns a low value to this parameter. The international trade literature, which is more concerned with long-run changes… (More)

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@inproceedings{Crucini2014DistributionCA, title={Distribution capital and the short- and long-run import demand elasticity∗}, author={Mario J. Crucini and Joseph Davis and George Alessandria and Aurelijus Dabu{\vs}inskas and Mick Devereux and Robert Feenstra}, year={2014} }