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Testing the Marshall-Lerner condition between the US and other G7 member countries

机译:测试美国与其他七国集团成员国之间的马歇尔-勒纳条件

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This paper examines the Marshall-Lerner condition for the six bilateral trade balances between the U.S. and Canada, France, Germany, Italy, Japan, and the U.K. from 1985 to 2016. The main contribution of this paper is that it tests for and incorporates nonlinearity into the balance of trade equation of Boyd, Caporale, and Smith (2001). My results indicate that price elasticities for exports and imports hardly satisfy the Marshall-Lerner condition in either of the two regimes. This means that higher real exchange rate depreciation may not necessarily improve the U.S. bilateral trade balance with all of the other G7 member countries. (C) 2017 Elsevier Inc. All rights reserved.
机译:本文研究了1985年至2016年美国与加拿大,法国,德国,意大利,日本和英国之间的六个双边贸易差额的马歇尔-勒纳条件。本文的主要贡献在于它检验并纳入了非线性。进入博伊德,卡波拉雷和史密斯(2001)的贸易平衡方程。我的结果表明,在两种制度中的任何一种下,进出口的价格弹性都几乎不能满足马歇尔-勒纳条件。这意味着较高的实际汇率贬值可能未必会改善与其他所有G7成员国的美国双边贸易平衡。 (C)2017 Elsevier Inc.保留所有权利。

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