Why Do Imports Fall More than Exports Especially During Crises? Evidence from Selected Asian Economies
This paper examines exports and imports during crisis via a standard import specification augmented with differential and time-varying impacts of each component of aggregate demand: consumption, investment, government spending, and exports. Several important variables in explaining import demand such as credit conditions and business and consumer sentiment are also included.
- Literature Review and Stylized Facts
- Econometric Specification
- Data and Estimation Issues