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Elasticity of demand for exports |
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Elasticity of demand for exportsThis is normally the price elasticity of demand for exports of a country, either for a single industry or for the aggregate of all imports. Equals the rest of world's elasticity of demand for imports, which therefore also enters the Marshall-Lerner condition.Similar MatchesArmington elasticityArmington elasticityThe elasticity of substitution between products of different countries. Constant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Elasticity of substitutionElasticity of substitutionThe elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). With competitive demands, this is also the elasticity with respect to their price ratio. For example, with factors L,K and factor prices w,r, the elasticity of substitution of a production function F(K,L) is s = (wL/rK)d(K/L)/d(w/r). Supply elasticitySupply elasticityThe elasticity of a supply function, usually with respect to price. ElasticityElasticityA measure of responsiveness of one economic variable to another -- usually the responsiveness of quantity to price along a supply or demand curve -- comparing percentage changes (%D) or changes in logarithms (d ln). The arc elasticity of x with respect to y is e = %Dx/%Dy. The point elasticity is e = d lnx/d lny = (y/x)(dx/dy). Further SuggestionsImport elasticityPrice elasticity Point elasticity Elasticity of demand for imports Import demand elasticity Demand elasticity Cross elasticity Arc elasticity Income elasticity |
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