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- W2170655350 abstract "This paper shows that, by disentangling the degree of monopolistic distortion from the elasticity of substitution between domestic and imported goods, we can obtain a negative response of the trade balance to positive monetary shocks, without introducing capital accumulation. This result could reconcile the class of models a la Obstfeld and Rogo¤ (1996, ch. 10) with the stylized fact of counter-cyclical trade" @default.
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- W2170655350 date "2001-12-15" @default.
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- W2170655350 title "On the Trade Balance Response to Monetary Shocks: the Marshall-Lerner Conditions Reconsidered" @default.
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- W2170655350 doi "https://doi.org/10.11130/jei.2001.16.4.590" @default.
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