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Is There a Brazilian J-Curve?

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  • Sergio Da Silva

    ()
    (Department of Economics, Federal University of Santa Catarina, Brazil)

  • Guilherme Moura

    ()
    (Department of Economics, Pontifical Catholic University of Minas Gerais, Brazil)

Abstract

We show that Marshall-Lerner condition holds for Brazilian trade balance, and discard a J-curve in the short run. We present these results using impulse-response functions in a variety of (linear and nonlinear) models, including Markov-switching, vector error-correction models.

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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 6 (2005)
Issue (Month): 10 ()
Pages: 1-17

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Handle: RePEc:ebl:ecbull:eb-05f30007

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  1. Garcia, Rene, 1998. "Asymptotic Null Distribution of the Likelihood Ratio Test in Markov Switching Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 763-88, August.
  2. Felmingham, Bruce S, 1988. "Where Is the Australian J-Curve?," Bulletin of Economic Research, Wiley Blackwell, Wiley Blackwell, vol. 40(1), pages 43-56, January.
  3. Mohsen Bahmani-Oskooee & Taggert Brooks, 1999. "Bilateral J-Curve between U.S. and her trading partners," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 135(1), pages 156-165, March.
  4. Swarnjit Arora & Mohsen Bahmani-Oskooee & Gour Goswami, 2003. "Bilateral J-curve between India and her trading partners," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 35(9), pages 1037-1041.
  5. Bonomo, Marco Antônio Cesar & Terra, Maria Cristina T., 1999. "The Political Economy of Exchange Rate Policy in Brazil: 1964-1997," Economics Working Papers (Ensaios Economicos da EPGE) 341, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  6. Perron, P., 1990. "Further Evidence On Breaking Trend Functions In Macroeconomics Variables," Papers, Princeton, Department of Economics - Econometric Research Program 350, Princeton, Department of Economics - Econometric Research Program.
  7. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 12(2-3), pages 231-254.
  8. repec:ebl:ecbull:v:5:y:2003:i:18:p:1-13 is not listed on IDEAS
  9. Olugbenga Onafowora, 2003. "Exchange rate and trade balance in east asia: is there a J-curve?," Economics Bulletin, AccessEcon, vol. 5(18), pages 1-13.
  10. Hansen, Bruce E, 1992. "The Likelihood Ratio Test under Nonstandard Conditions: Testing the Markov Switching Model of GNP," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 7(S), pages S61-82, Suppl. De.
  11. Mohsen Bahmani-Oskooee & Tatchawan Kantipong, 2001. "Bilateral J-Curve Between Thailand and Her Trading Partners," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, Chung-Ang Unviersity, Department of Economics, vol. 26(2), pages 107-117, December.
  12. Mansoorian, Arman, 1998. "Habits and durability in consumption, and the dynamics of the current account," Journal of International Economics, Elsevier, Elsevier, vol. 44(1), pages 69-82, February.
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Cited by:
  1. Reis, Luciana & Meurer, Roberto & Da Silva, Sergio, 2008. "Stock returns and foreign investment in Brazil," MPRA Paper 23028, University Library of Munich, Germany.
  2. Guttler, Caio & Meurer, Roberto & Da Silva, Sergio, 2006. "Informational inefficiency of the Brazilian stockmarket," MPRA Paper 1980, University Library of Munich, Germany.
  3. Jamilov, Rustam, 2013. "Capital mobility in the Caucasus," Economic Systems, Elsevier, Elsevier, vol. 37(2), pages 155-170.
  4. Jamilov, Rustam, 2011. "J-Curve Dynamics and the Marshall-Lerner Condition: Evidence from Azerbaijan," MPRA Paper 36799, University Library of Munich, Germany, revised Feb 2012.
  5. Sergio Da Silva & Annibal Figueiredo & Iram Gleria & Raul Matsushita, 2007. "Hurst exponents, power laws, and efficiency in the Brazilian foreign exchange market," Economics Bulletin, AccessEcon, vol. 7(1), pages 1-11.
  6. Bustamante, Rafael & Morales, Fedor, 2009. "Probando la condición de Marshall-Lerner y el efecto Curva-J: Evidencia empírica para el caso peruano," Revista Estudios Económicos, Banco Central de Reserva del Perú, Banco Central de Reserva del Perú, issue 16, pages 103-126.

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