dc.contributor.author | Naug, Bjørn E. | |
dc.contributor.author | Nymoen, Ragnar | |
dc.date.accessioned | 2012-03-01T22:39:10Z | |
dc.date.available | 2012-03-01T22:39:10Z | |
dc.date.issued | 1995 | |
dc.identifier.issn | 1892-753x | |
dc.identifier.uri | http://hdl.handle.net/11250/180819 | |
dc.description.abstract | This paper investigates the determinants of Norwegian import prices of manufactures over the period 1970(1) - 1991(4). Multivariate cointegration analysis establishes a long-run relationship between import prices, foreign prices, the exchange rate and domestic unit labour costs. Normalized on import prices, the long-run elasticities are 0.63 (foreign prices and the exchange rate) and 0.37 (domestic costs). Deviations from this relationship are highly significant in a structural import price equation, which also contains positive effects of growth in domestic demand and inflation, as well as a negative effect from the Norwegian unemployment rate. The estimated parameters appear reasonably stable within the sample.
Keywords: Import price formation, pricing to market, domestic effects, Johansen procedure, structural error correction model, super exogeneity | no_NO |
dc.language.iso | nob | no_NO |
dc.publisher | Statistics Norway, Research Department | no_NO |
dc.relation.ispartofseries | Discussion Papers;No. 157 | |
dc.subject | Norway | no_NO |
dc.subject | Johansen procedure | no_NO |
dc.subject | Import prices | no_NO |
dc.subject | Manufacturing | no_NO |
dc.subject | Multivariate cointegration analysis | no_NO |
dc.subject | Exchange rates | no_NO |
dc.subject | Domestic demand | no_NO |
dc.subject | Inflation | no_NO |
dc.subject | Unemployment | no_NO |
dc.subject | JEL classification: C32 | no_NO |
dc.subject | JEL classification: C51 | no_NO |
dc.subject | JEL classification: C52 | no_NO |
dc.subject | JEL classification: D40 | no_NO |
dc.subject | JEL classification: L16 | no_NO |
dc.title | Import price formation and pricing to market: A test on Norwegian data | no_NO |
dc.type | Working paper | no_NO |
dc.subject.nsi | VDP::Social science: 200::Economics: 210::Economics: 212 | no_NO |
dc.source.pagenumber | 26 s. | no_NO |