Elasticities

TABLE 3.2. The Industries of the Model, Their Assumed Elasticities of Substitution and Demand, and Tariff and NTB Data for Each
Industry and ISIC Code			Elasticity of Capital-Labor Substitution	Elasticity of Import-Home-Good Substitution	U.S. Import Demand Elasticity	Post-Tokyo Round Average Tariff Level (percentage)	Assumed Average Coverage by NTBs (percentage)
Traded Goods
	Agr., forestry, and fishery	1	0.787	1.139	1.130	6.9	18.4
	Food, beverage, and tobacco	310	1.746	1.133	1.130	11.0	23.4
	Textiles	321	0.963	1.147	1.140	8.5	29.1
	Wearing apparel	322	1.191	4.269	3.920	17.5	46.5
	Leather products	323	1.230	1.810	1.580	3.0	1.1
	Footwear	324	1.436	2.825	2.390	12.0	37.1
	Wood products	331	0.852	1.757	1.690	1.9	0.0
	Furniture and fixtures	332	1.122	3.096	3.000	6.9	0.0
	Paper and paper products	341	1.626	1.585	1.550	4.3	0.6
	Printing and publishing	342	0.810	3.013	3.000	1.5	10.4
	Chemicals	35A	1.098	2.612	2.530	6.4	4.1
	Petroleum and related prod.	35B	10.011	2.359	1.960	1.4	47.8
	Rubber products	355	1.647	5.707	5.260	4.1	3.1
	Nonmetallic mineral prod.	36A	1.246	2.784	2.700	4.0	8.4
	Glass and glass prod.	362	1.267	1.628	1.600	8.0	0.0
	Iron and steel	371	1.382	1.446	1.420	4.3	8.2
	Nonferrous metals	372	1.350	1.430	1.380	1.7	6.9
	Metal prod.	381	0.943	3.674	3.590	6.2	2.5
	Nonelectrical machinery	382	0.677	1.022	1.020	4.7	1.9
	Electrical machinery	383	0.521	2.110	2.000	7.1	7.1
	Transport equipment	384	0.344	3.585	3.280	5.9	10.4
	Miscellaneous manuf.	38A	1.272	1.984	1.780	4.8	2.7
Nontraded Goods
	Mining and quarrying	2	1.541	---	---	---	---
	Electricity, gas, and water	4	2.266	---	---	---	---
	Construction	5	1.105	---	---	---	---
	Wholesale and retail trade	6	2.266	---	---	---	---
	Transportation, stor., and comm.	7	1.457	---	---	---	---
	Finance, ins., and real est.	8	1.657	---	---	---	---
	Community, soc., and pers. serv.	9	1.087	---	---	---	---