Back Matter

Back Matter

Yuan Xiao, Robert Burgess, and Stefania Fabrizio
Published Date:
July 2004
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    An appreciation of the external exchange rate (qx > 0) will worsen the competitiveness of the domestic products and consequently the trade balance, when the Marshall-Lerner condition holds.

    For a discussion of the decomposition of time series into permanent and transitory components, see Maravall (1993) and Quah (1992).

    Data are seasonally adjusted.

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