Bilateral Trade Elasticities
估计了全球双边贸易的收入和价格弹性，发现双边弹性差异显著，表明贸易方向对收入和价格变化敏感；同时，多边弹性虽与文献一致，但仅依赖它会掩盖政策与实证分析中的重要信息。
This paper estimates income and price elasticities for bilateral world trade. In addition to testing the properties of the error terms, the dynamic specification, and the assumption of parameter constancy, the analysis presents the first application of the Bank Spectrum estimator to bilateral trade flows for all countries. The paper finds that bilateral trade elasticities exhibit enough of a dispersion to suggest that the direction of trade is sensitive to changes in income and prices. Using the bilateral elasticities as raw data, the analysis obtains the associated multilateral estimates and finds that they are both consistent with the literature and suitable to addressing questions involving multilateral trade. But the evidence also reveals that sole reliance on multilateral elasticities conceals valuable information for both policy applications and empirical analyses of international trade. Copyright 1990 by MIT Press.