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Publication date: 4 May 2018 | Publication type: National Institute Economic Review | Theme: Macroeconomics | External authors: Esser, A, Jorra, M, Slopek, U | JEL classification: E37, F14, F17, F44, F47 | Journal: National Institute Economic Review Issue 244 | Publisher: Sage Publications, London
For a large number of countries, we augment the specification of import demand in NiGEM by accounting for different import contents of individual expenditure components. Three examples illustrate that these changes have important implications for model outcomes. In the case of the recently enacted...