The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Oct, 1962, Volume 30, Issue 4
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.
