La condition de Marshall-Lerner-Robinson est-elle stable ? Approche par le test GLS cointégration à niveau et puissance améliorés
[Does the Marshall-Lerner-Robinson condition verify the stability? Evidence from GLS-cointegration test with Good Size and Power]
AbstractThe aim of the paper is to test the Marshall-Lerner-Robinson condition by using the unit-root test of Ng-Perron (2001) and cointegration test of Perron-Rodriguez (2001). These tests are based on procedures for removing the trend using the GLS, leading to remove no-stochastic components. By examining the existence of LR relationship between the exchange rate and net-exports using the Moroccan quarterly data, it appears that there is no complementary relationship between the two variables. The rigidity of nominal and real behaviors of both private and public sectors explains to some extent the absence of a long-run equilibrium in the temporal evolution of the exchange rate. These discrepancies related in particular to markets mechanism and economic policies of the government.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 56354.
Date of creation: 05 Sep 2007
Date of revision: 15 Jan 2008
Publication status: Published in Revue des Economies Nord Africaines 1.5(2008): pp. 21-48
Critical elasticity; Deficit trade; Effective exchange rate; Cointegration.;
Find related papers by JEL classification:
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
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