کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5086353 | 1375170 | 2009 | 11 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The Japanese-U.S. trade balance and the yen: Evidence from industry data
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
While it is often assumed that a country's trade balance will improve in the long-run if its currency is allowed to depreciate, this is not necessarily the case for specific goods. In the short run, the opposite might even take place, as fixed quantities and rising import prices cause the trade balance to deteriorate. In this paper, we apply cointegration methodology to assess the short- and long-run impact of fluctuations in the yen-dollar real exchange rate on Japan's trade balance with the U.S. for 117 industries. We find that depreciation causes the trade balance to improve in the long-run for about one-third of Japanese industries. Most short-run effects are in the same direction, indicating a quick improvement in these industries' trade balance, rather than a period of deterioration such as a “J-curve.”
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Japan and the World Economy - Volume 21, Issue 2, March 2009, Pages 161-171
Journal: Japan and the World Economy - Volume 21, Issue 2, March 2009, Pages 161-171
نویسندگان
Mohsen Bahmani-Oskooee, Scott W. Hegerty,