Econometrica: Oct 1962, Volume 30, Issue 4

The Elasticity of Import Demand for Raw Apparel Wool in the United States

https://doi.org/0012-9682(196210)30:4<670:TEOIDF>2.0.CO;2-8
p. 670-699

C. E. Ferguson, Metodey Polasek

Two issues are the subject of analysis in this paper. First, there is a theoretical discussion of the elasticity of import demand for a single commodity. It is shown that there is a strong presumption that import demand is elastic. Secondly, an empirical demand function is obtained for the United States import demand for raw apparel wool.

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