Does devaluation improve the current account?☆
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Cited by (89)
Exchange rate volatility and international trade
2023, Journal of Business ResearchThe impact of the Russian Aggression against Ukraine on the Russia-EU Trade
2022, Journal of Policy ModelingCitation Excerpt :The central bank counteracted and imposed capital controls by doubling its benchmark interest rates to control currency depreciation and hyperinflation (Verma, 2022). Empirically, currency devaluation in developing countries has a contractionary effect in the short run and an expansionary impact in the long run (Connolly, 1983; Gylfason & Risager, 1984; Gylfason & Schmid, 1983). However, ruble devaluation will have a neutral effect on Russian exports.
On the link between real effective value of Tunisia's Dinar and its sectoral trade with the rest of the world: New evidence from asymmetry analysis
2019, Quarterly Review of Economics and FinanceAsymmetric effects of exchange rate changes on Turkish bilateral trade balances
2017, Economic SystemsCitation Excerpt :If our only concern is the long run, the evidence is mixed. While Khan (1974) and Gylfason and Risager (1984, Table 1) show that the sum of the import and export demand price elasticities exceed one, supporting the effectiveness of devaluation in improving Turkey’s trade balance, Bahmani-Oskooee and Kara (2005) report the opposite.1 However, if our concern is the short run, then the evidence from the J-curve literature is also mixed.
Russian devaluation in 2014-2015: Falling into the abyss or a window of opportunity?
2015, Russian Journal of Economics
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Prepared for the International Seminar on Macroeconomics VI, held at the Maison des Sciences de l'Homme in Paris, June 26–28, 1983, and co-sponsored by the National Bureau of Economic Research. We are indebted to John Cuddington for valuable comments on an earlier version, to William Branson, Jacob Frenkel, Thierry de Montbrial, and Jean Waelbroeck for their suggestions at the seminar in Paris, and to Per Skedinger for assistance with the computations. We remain responsible for any errors.