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Are the U.S. Exports to and Imports from Japan Cointegrated?

Author

Listed:
  • Wu, Yangru

    (Rutgers University)

  • Zhang, Junxi

    (University of Hong Kong)

Abstract

The size and duration of the U.S. bilateral trade deficit with Japan has raised concern from both politicians and the general public. This paper seeks to investigate the behavior of this deficit by conducting stationarity tests on the deficit and tests for long-run relationships between U.S. exports to and imports from Japan. We show that, if an endogenously searched break is properly accounted for, exports and imports are cointegrated with a coefficient of one, and the deficit appears to be stationar y. Thus, in contrast to the public’s percep - tion, we conclude that the U.S.-Japan trade deficit may not be “too large.”

Suggested Citation

  • Wu, Yangru & Zhang, Junxi, 1998. "Are the U.S. Exports to and Imports from Japan Cointegrated?," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 13, pages 626-643.
    • Handle: RePEc:ris:integr:0091
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    Citations

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    Cited by:

    1. Ali Farhan Chaudhry & Abdul Rauf Butt & Muhammad Irfan Chani, 2017. "Long-Run Relationship between Exports and Imports of Pakistan," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(8), pages 204-211, August.
    2. Hye, Qazi Muhammad Adnan & Wizarat, Shahida & Lau, Wee-Yeap, 2013. "Trade-led growth hypothesis: An empirical analysis of South Asian countries," Economic Modelling, Elsevier, vol. 35(C), pages 654-660.

    More about this item

    Keywords

    U.S. Exports; U.S. Imports; Japan Cointegrated;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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