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Autor:innen: 
Erscheinungsjahr: 
1999
Schriftenreihe/Nr.: 
Discussion Papers No. 243
Verlag: 
Statistics Norway, Research Department, Oslo
Zusammenfassung: 
The paper models domestic output over imports in Norway's expenditure on manufactures. Using Johansen's (1988, 1991) method, we obtain a cointegrating vector between the output-imports ratio, relative prices and a proxy for international specialisation. This vector enters a conditional equilibrium correction model of the output-imports ratio; a model which also includes short-run influences of relative prices and a negative coefficient for domestic capacity utilisation. The utilisation coefficient aside, we do not find significant activity effects on the output-imports ratio. Lastly, the model passes several tests of the Lucas critique.
Schlagwörter: 
Import share
international specialisation
cointegration
Johansen procedure
equilibrium correction model
parameter constancy
Lucas critique.
JEL: 
C22
C32
F12
F14
Dokumentart: 
Working Paper

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