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A generalized Armington trade model: Respecification

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  • Seung‐Ryong Yang
  • Won W. Koo

Abstract

Even if the original version of the Armington model is simple and plausible in estimation, the single CES and homotheticity assumptions are too restrictive for practical application and give biased price elasticities. This paper develops a generalized Armington model, which relaxes the single CES and homotheticity restrictions, and includes the Armington model as a special case. The Armington and generalized Armington trade models are applied to the Japanese meat import demand to demonstrate their performance. The empirical results rejected the two assumptions imposed on the Armington model. The generalized Armington model provides an alternative to the restrictive but indispensable Armington model.

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  • Seung‐Ryong Yang & Won W. Koo, 1993. "A generalized Armington trade model: Respecification," Agricultural Economics, International Association of Agricultural Economists, vol. 9(4), pages 347-356, December.
    • Handle: RePEc:bla:agecon:v:9:y:1993:i:4:p:347-356
    DOI: 10.1111/j.1574-0862.1993.tb00279.x
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    Cited by:

    1. Marilyne Huchet‐Bourdon & Esmaeil Pishbahar, 2009. "Armington Elasticities and Tariff Regime: An Application to European Union Rice Imports," Journal of Agricultural Economics, Wiley Blackwell, vol. 60(3), pages 586-603, September.
    2. Osman, Rehab Osman Mohamed, 2012. "The EU Economic Partnership Agreements with Southern Africa: a computable general equilibrium analysis," Economics PhD Theses 0412, Department of Economics, University of Sussex Business School.

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