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Import elasticity |
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Import elasticityUsually means the import demand elasticity.Similar MatchesElasticityElasticityA 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). Import demand elasticityImport demand elasticityThe elasticity of demand for imports with respect to price. Elasticity of demand for importsElasticity of demand for importsThis is normally the price elasticity of demand for imports of a country, either for a single industry or for the aggregate of all imports. The latter plays a critical role in determining how the country's balance of trade responds to the exchange rate. See Marshall-Lerner condition. Cross elasticityCross elasticity1. An elasticity that has been ignored by a student in a problem set. 2. The elasticity of supply or demand for one good or service with respect to the price of another. Constant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Further SuggestionsPoint elasticitySupply elasticity Arc elasticity Elasticity of substitution Price elasticity Armington elasticity Income elasticity Elasticity of demand for exports Demand elasticity |
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