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Table 5 Various estimates of price and income elasticities for US trade (imports and exports)

Type of estimate	NI	N2	N3	Period	Price elasticity	Income elasticity	Authors
US exports	Goods and services	SR	Relative price	1956-1996	-0.50	1.80	Hooper, Johnson, and Marquez (2000)
US exports	Goods and services	LR	Relative price	1956-1996	-1.50	0.80	Hooper, Johnson, and Marquez (2000)
US exports	Goods and services	LR	Real effective exchange rate	2004	-1.00	1.50	Cline (2005)
US exports	Goods	LR	Real effective exchange rate	1981-2006	-0.63	2.51	Crane, Crowley, and Quayyum (2007)
US exports	Goods	LR	Relative price of exports	1981-2006	0.20	3.04	Crane, Crowley, and Quayyum (2007)
US exports	Goods	LR	Real effective exchange rate	1988-2006	-8.56	1.91	Crane, Crowley, and Quayyum (2007)
US exports	Goods	LR	Relative price of exports	1988-2006	2.21	4.90	Crane, Crowley, and Quayyum (2007)
US exports	Goods	LR	Real effective exchange rate	1973-2006	-0.27	1.82	Cardarelli et al. (2007)
US exports	Goods	LR	Relative price	1973-2006	-0.23	1.85	Cardarelli et al. (2007)
US exports	Goods	LR	Real effective exchange rate	1986-2006	ND	1.97	Cardarelli et al. (2007)
US exports	Goods	LR	Relative price	1986-2006	ND	0.76	Cardarelli et al. (2007)
US exports	Goods	SR	Relative price	1980-1995	-0.95	1.12	Wren-Lewis and Driver (1998)
US exports	Goods	LR	Relative price	1980-1995	-0.65	1.21	Wren-Lewis and Driver (1998)
US exports	Goods	SR	GDP as income	1980-2003	-0.07	2.79	Mann and PIOck (2005)
US exports	Goods	LR	GDP as income	1980-2003	-0.20	1.44	Mann and PIOck (2005)
US exports	Goods	SR	Matched expenditure and prices	1980-2003	-0.03		Mann and PIOck (2005)
US exports	Goods	LR	Matched expenditure and prices	1980-2003	-0.09	1.19	Mann and PIOck (2005)
US partners imports (i.e., US exports)	Goods	LR	Simple average of HS6 estimates	1988-2002	-2.40	ND	Kee, Nicita, and Olarreaga (2004)
US partners imports (i.e., US exports)	Goods	LR	Median of HS6 estimates	1988-2002	-1.12	ND	Kee, Nicita, and Olarreaga (2004)
US partners imports (i.e., US exports)	Goods	LR	Weighted average of HS6 estimates	1988-2002	-1.17	ND	Kee, Nicita, and Olarreaga (2004)
US imports	Goods and services	SR	Relative price	1956-1996	-0.60	2.30	Hooper, Johnson, and Marquez (2000)
US imports	Goods and services	LR	Relative price	1956-1996	-0.30	1.80	Hooper, Johnson, and Marquez (2000)
US partners exports (i.e., US imports)	Goods and services	LR	Real effective exchange rate	2004	-0.82	1.50	Cline (2005)
US imports	Goods	LR		1967-1987	-0.22	2.10	Crane, Crowley, and Quayyum (2007)
US imports	Goods	LR		1967-2006	-0.42	1.98	Crane, Crowley, and Quayyum (2007)
US imports	Goods	LR		1988-2006	-0.69	2.18	Crane, Crowley, and Quayyum (2007)
US imports	Goods	LR	Real effective exchange rate	1973-2006	-0.55	2.46	Cardarelli et al. (2007)
US imports	Goods	LR	Relative price	1973-2006	-0.41	2.03	Cardarelli et al (2007)
US imports	Goods	LR	Real effective exchange rate	1986-2006	ND	1.86	Cardarelli et al. (2007)
US imports	Goods	LR	Relative price	1986-2006	ND	2.46	Cardarelli et al. (2007)
US imports	Goods	SR	Relative price	1980-1995	-0.38	2.43	Wren-Lewis and Driver (1998)
US imports	Goods	LR	Relative price	1980-1995	-0.18	2.36	Wren-Lewis and Driver (1998)
US imports	Goods	SR	GDP as income	1980-2003	-0.17	4.11	Mann and PIOck (2005)
US imports	Goods	LR	GDP as income	1980-2003	-0.28	2.22	Mann and PIOck (2005)
US imports	Goods	SR	Matched expenditure and prices	1980-2003	-0.09	1.00	Mann and PIOck (2005)
US imports	Goods	LR	Matched expenditure and prices	1980-2003	0.10	1.63	Mann and PIOck (2005)
US imports	Goods	LR	Simple average of HS6 estimates	1988-2002	-3.39	ND	Kee, Nicita, and Olarreaga (2004)
US imports	Goods	LR	Median of HS6 estimates	1988-2002	-1.16	ND	Kee, Nicita, and Olarreaga (2004)
US imports	Goods	LR	Weighted average of HS6 estimates	1988-2002	-1.30	ND	Kee, Nicita, and Olarreaga (2004)

Goods and services = goods and services are considered; LR = long-run analysis; SR = short-run analysis; ND = no estimate made.

Notes: The US import price elasticity calculated from Cline (2005) is the weighted average (by US 2004 imports) of export price elasticity estimates for the 17 US partner countries. The US export price elasticities Calculatedfrom
Kee, Nicita, and Olarreaga (2004) are the weighted average (by US 2004 exports) of import price elasticity estimates for the 17 US partner countries (excluding Taiwan).

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