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Aggregate imports and expenditure components in the UK: an empirical analysis

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Published
<mark>Journal publication date</mark>1/09/1996
<mark>Journal</mark>Applied Economics
Issue number9
Volume28
Number of pages7
Pages (from-to)1119-1125
Publication StatusPublished
<mark>Original language</mark>English

Abstract

This paper examines the long-run relationship between UK aggregate imports and the macroeconomic components of final expenditure, using the Johansen multivariate cointegration analysis. It is found that there are significant differences between the long-run elasticities of import demand with respect to the different components of final expenditure, over the period 1972 to 1990. An error correction model is proposed for short-run forecasting of UK aggregate imports. The short-run model appears to track the data well.