무역의 외연영역과 수입수요 함수 = The Import Demand Equation with the Extensive Marhin and an Empirical Analysis

국문 초록 (Abstract)

전통적인 수입수요함수에서 추정된 소득탄력성은 과대추정 되었다는 비판을 받아 왔다. 소득과 가격만을 설명변수로 사용하는 추정모형에서는 새로운 상품이 미치는 영향이 생략되어 소득탄력성이 과대하게 추정된다. 본 연구는 무역의 외연영역(Extensive Margin)을 포함하는 수입수요 모형을 제시하고, 이 모형을 이용하여 한국 수출에 대한 소득탄력성을 추정한다. 실증분석에 따르면 한국 수출에 대한 세계 국가들의 소득탄력성은 새로운 상품의 영향을 고려하지 않을 경우 115% 과대하게 추정된다.

다국어 초록 (Multilingual Abstract)

It is well-known that income elasticities in the standard import demand equation may be over-estimated because of the omission of new goods. Following this line of reasoning, this paper suggests an import demand equation that incorporates the extensive margin and then estimates the effect of new goods on income elasticities. This paper shows that income elasticities are upward biased by approximately 115% when the effects of new goods are not taken into account, using Korean export data. This paper proposes a new sophisticated import demand equation that is useful for estimating un-biased income elasticities.

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