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The Importance of Rationing in International Trade: An Econometric Analysis for Germany

Published online by Cambridge University Press:  17 August 2016

Wolfgang Franz  and
Gustav Heidbrink
Wolfgang Franz
Affiliation:
Universität Konstanz
Gustav Heidbrink
Affiliation:
Universität Konstanz
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Summary

Within the context of a macroeconometric rationing model the importance of rationing for international trade flows is investigated. The model describes rationing barriers on domestic and foreign markets which lead to spillover effects on domestic imports and exports. The novelties of this study are the more detailed analysis of the dynamics of international trade flows and the use of business survey data as proxies for rationing barriers. The model is estimated for Germany. As a result rationing does influence trade flows to a non-negligible extent. Moreover, business survey data are a useful indicator for rationing but they do not outperform other proxies such as the degree of capacity utilization.

Résumé

Résumé

Dans le contexte d'un modèle macroéconomètrique avec rationnement, on étudie l'importance du rationnement sur les flux commerciaux internationaux. Le modèle décrit les barrières de rationnement sur les marchés domestiques et étrangers. Les deux nouveautés de cette étude sont la plus grande finesse des analyses de la dynamique des flux commerciaux internationaux et l'utilisation de données d'enquêtes auprès des entreprises comme approximation des contraintes de rationnement. Le modèle est estimé pour l'Allemagne. Les résultats indiquent que le rationnement influence les flux commerciaux de façon non-négligeable. De plus, si les donnés d'enquêtes auprès des entreprises sont un indicateur fort utile du degré de rationnement, elle ne constituent pas une meilleures approximation de celui-ci que d'autres indicateurs tel que le degré d'utilisation des capacités.

Keywords

C32E32F31C32E32F31
Type
Part III: Disequilibrium and Business Cycle Analysis
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 58 , Issue 3-4: Output and Employment Fluctuations , 1992 , pp. 346 - 371
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1992 

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Footnotes

(*)

This work is part of a project within the special research unit on international economics at the University of Konstanz (Sonderforschungsbereich 178 “Internationalisierung der Wirtschaft”). We are very grateful to W. Smolny (University of Konstanz) and J. Wolters (Free University of Berlin) for valuable comments and support. The paper benefited considerably from helpful comments made by three anonymous referees. The usual disclaimer applies.

References

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