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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Journal of Economic Structures Cover Image

Table 16 Values of relevant parameters

From: Impact of trade liberalisation on formal–informal interlinkages in India: does sectoral labour mobility matter?

Description of elasticity parametersValue
CES elasticity of substitution of composite labour0.2/1.2/2.5
CET elasticity of transformation between local sales and exports2
CES elasticity of substitution of composite commodity2
Income elasticity of Consumption across commodities0.7
Frisch parameter− 1.5
Wage rate of formal regular labour (at the base level)1.2
Wage rate of informal regular labour (at the base level)1.1
Wage rate of casual labour (at the base level)1
Rental rate across sectors (at the base level)1
Price of local product (at the base level)1
Price elasticity of indexed transfers and parameters1
Exchange rate (at the base level)1
Export price (at the base level)1
World price of import (at the base level)1
  1. Parametric values are exogenously determined