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Author(s) / Editor(s): 
  • Juan José Echavarría,
  • Iader Giraldo,
  • Fernando Jaramillo

Estimating import supply and demand elasticities for Colombia

The series Borradores de Economía (Working Papers on Economics) contributes to the dissemination and promotion of the work by researchers from the institution. On multiple occasions, these works have been the result of collaborative work with individuals from other national or international institutions. This series is indexed at Research Papers in Economics (RePEc). 

Publicado el: 
Wednesday, 10 July 2019

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors.

 

ABSTRACT

 

This article estimates the imports supply and demand elasticities at a 10-digit Nandina disaggregation level for Colombia. Unlike the estimates previously made, the methodology used admits a level of disaggregation in the calculated elasticities, almost at the product level. In addition, it allows an unbiased estimation of the imports supply and demand elasticities because it takes into account the entry and exit of firms over time. The results show the imports supply and demand elasticities for 7055 Nandina positions. The values of the elasticities are highly differentiated between products and sectors.