HC Deb 10 March 1983 vol 38 c492W
Mr. Austin Mitchell

asked the Chancellor of the Exchequer what changes have been made since May 1979 in the elasticities of imports and exports used in the Treasury model to simulate the effects of devaluation on output and employment.

Mr. Bruce-Gardyne

The elasticities in the main export and import volume equations in the Treasury model are given in the latest technical manual, published in November 1982. The elasticity on competitiveness in the equation for exports of manufactures has recently been updated. I refer the hon. Member to my reply of 3 March—[Vol. 38, c.209.]—to his earlier written question. The elasticities used in the Treasury model in 1979 are given in the October 1979 version of the technical manual.