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Table 6

Direct price and output elasticities

With marginal price
With average price
ΕWWΕWYΕWWΕWY
Aggregate −0.86*** 0.73*** −0.99*** 0.65*** 
Manufacturing −0.52** −0.37 −0.94*** 0.19 
Construction −0.58 2.58*** −0.93*** −0.10 
Services −0.88*** 0.83*** −1.00*** 0.74*** 
Subsectors:     
M1 −0.62* 0.65** −0.73*** 0.76*** 
M2 1.55 −5.52* −0.91 −2.60 
M3 −0.03 −0.38 −1.04*** −0.23 
M4 0.51 −1.44 −1.40* 0.29 
M5 −0.73 0.98 −0.86*** 1.06** 
M6 −0.44 −2.13 −1.66* 2.08 
M7 −0.86 0.35 −1.00** 0.54 
M8 2.80 −6.10 0.02 2.69 
M9 −1.06 0.91 −1.22*** 0.92** 
M10 −0.12 −0.65 −0.29 −1.85 
M11 0.19 −2.17 −0.93* 0.55 
S13 −0.77*** 0.76*** −0.99*** 0.52*** 
S14 −0.74 0.30 −0.91*** −0.16 
S15 −0.91*** 0.62*** −1.00*** 0.68*** 
S16 −0.82 −2.73 −2.10 −1.47 
S17 −2.88 5.39** 1.79 −2.27 
S18 −1.24*** 2.14*** −1.07*** 0.56*** 
S19 −0.40 0.11 −1.08*** 0.81* 
S20 0.31 0.14 −1.05** −0.77 
S21 −0.85 0.58 −0.97*** 1.06*** 
S22 −0.83*** 0.90*** −1.00*** 0.83*** 
S23 −0.97*** 0.87*** −0.96*** 0.78*** 
S24 −0.87*** 1.13*** −0.86*** 0.97*** 
With marginal price
With average price
ΕWWΕWYΕWWΕWY
Aggregate −0.86*** 0.73*** −0.99*** 0.65*** 
Manufacturing −0.52** −0.37 −0.94*** 0.19 
Construction −0.58 2.58*** −0.93*** −0.10 
Services −0.88*** 0.83*** −1.00*** 0.74*** 
Subsectors:     
M1 −0.62* 0.65** −0.73*** 0.76*** 
M2 1.55 −5.52* −0.91 −2.60 
M3 −0.03 −0.38 −1.04*** −0.23 
M4 0.51 −1.44 −1.40* 0.29 
M5 −0.73 0.98 −0.86*** 1.06** 
M6 −0.44 −2.13 −1.66* 2.08 
M7 −0.86 0.35 −1.00** 0.54 
M8 2.80 −6.10 0.02 2.69 
M9 −1.06 0.91 −1.22*** 0.92** 
M10 −0.12 −0.65 −0.29 −1.85 
M11 0.19 −2.17 −0.93* 0.55 
S13 −0.77*** 0.76*** −0.99*** 0.52*** 
S14 −0.74 0.30 −0.91*** −0.16 
S15 −0.91*** 0.62*** −1.00*** 0.68*** 
S16 −0.82 −2.73 −2.10 −1.47 
S17 −2.88 5.39** 1.79 −2.27 
S18 −1.24*** 2.14*** −1.07*** 0.56*** 
S19 −0.40 0.11 −1.08*** 0.81* 
S20 0.31 0.14 −1.05** −0.77 
S21 −0.85 0.58 −0.97*** 1.06*** 
S22 −0.83*** 0.90*** −1.00*** 0.83*** 
S23 −0.97*** 0.87*** −0.96*** 0.78*** 
S24 −0.87*** 1.13*** −0.86*** 0.97*** 

Note: *, **, *** indicate statistical significance at the 10, 5 and 1% level.

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