| Sumario: | The results are mixed in this substantially disaggregated study of U.S. import demand. Price elasticities for import demand in several categories of steel are significant and large, compared to results for manufactures in more aggregate studies. For most other categories of manufactured imports, relative price does not demonstrate significant power in explaining import demand. For various categories of consumer durables, where there is likely to be product differentiation, the price coefficient is significant but positive. Further work should be done to identify factors, other than price and income, which influence demand. Real domestic consumption expenditure for durables, non-durables, and household goods has significant power to explain import demand; the elasticity coefficient is positive and generally greater than one. There is no clear pattern of difference in results from one foreign country supplier to another.
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