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Is There A J-Curve? A New Estimation for Japan

Author

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  • Gupta-Kapoor Anju
  • Ramakrishnan Uma

Abstract

The controversial J-curve phenomenon is empirically tested using quarterly data for Japan between 1975:1 and 1996:4. The effects of an appreciation of yen on the ratio of imports to exports (M/X) is analyzed using an error correction model. The impulse response function indicates that the J-curve holds for Japan during the flexible exchange rate regime. [F31, F32, F40]

Suggested Citation

  • Gupta-Kapoor Anju & Ramakrishnan Uma, 1999. "Is There A J-Curve? A New Estimation for Japan," International Economic Journal, Taylor & Francis Journals, vol. 13(4), pages 71-79.
  • Handle: RePEc:taf:intecj:v:13:y:1999:i:4:p:71-79 DOI: 10.1080/10168739900000045
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    References listed on IDEAS

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    1. Rose, Andrew K. & Yellen, Janet L., 1989. "Is there a J-curve?," Journal of Monetary Economics, Elsevier, vol. 24(1), pages 53-68, July.
    2. Rose, Andrew K., 1991. "The role of exchange rates in a popular model of international trade : Does the 'Marshall-Lerner' condition hold?," Journal of International Economics, Elsevier, pages 301-316.
    3. Rose, Andrew K., 1990. "Exchange rates and the trade balance : Some evidence from developing countries," Economics Letters, Elsevier, vol. 34(3), pages 271-275, November.
    4. Ellen E. Meade, 1988. "Exchange rates, adjustment, and the J-curve," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), pages 633-644.
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    Cited by:

    1. Morita, Hiroshi, 2014. "External shocks and Japanese business cycles: Evidence from a sign-restricted VAR model," Japan and the World Economy, Elsevier, vol. 30(C), pages 59-74.
    2. Peguero, Anadel G. & Cruz-Rodríguez, Alexis, 2016. "Condición Marshall-Lerner y el efecto Curva J: Evidencias para la República Dominicana
      [Marshall-Lerner Condition and J-Curve Effect: Evidence for the Dominican Republic]
      ," MPRA Paper 71535, University Library of Munich, Germany.
    3. Baek, Jungho, 2007. "The J-curve effect and the US-Canada forest products trade," Journal of Forest Economics, Elsevier, pages 245-258.
    4. Hsing, Yu, 2009. "Test of the J-curve for the DR-CAFTA countries and policy implications," Research in International Business and Finance, Elsevier, pages 293-301.
    5. Bahmani-Oskooee, Mohsen & Hegerty, Scott W., 2009. "The Japanese-U.S. trade balance and the yen: Evidence from industry data," Japan and the World Economy, Elsevier, vol. 21(2), pages 161-171, March.
    6. Rustam Jamilov, 2013. "J-Curve Dynamics and the Marshall–Lerner Condition: Evidence from Azerbaijan," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), pages 313-323.
    7. Holinski Nils & Vermeulen Robert, 2009. "The International Wealth Effect: A Global Error-Correcting Analysis," Research Memorandum 019, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    8. Hussain, M. Ershad & Haque, Mahfuzul, 2014. "Is the J-Curve a Reality in Developing Countries?," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 231-240.
    9. Ivrendi, Mehmet & Yildirim, Zekeriya, 2013. "Monetary policy shocks and macroeconomic variables: Evidence from fast growing emerging economies," Economics Discussion Papers 2013-61, Kiel Institute for the World Economy (IfW).
    10. Kyophilavong, Phouphet & Shahbaz, Muhammad & Uddin, Gazi Salah, 2013. "Does J-curve phenomenon exist in case of Laos? An ARDL approach," Economic Modelling, Elsevier, vol. 35(C), pages 833-839.
    11. repec:eco:journ1:2017-04-17 is not listed on IDEAS
    12. 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.
    13. Hsing Yu, 2008. "A Study of the J-Curve for Seven Selected Latin American Countries," Global Economy Journal, De Gruyter, vol. 8(4), pages 1-14, December.
    14. repec:pje:journl:article27sumviii is not listed on IDEAS
    15. repec:bth:wpaper:2004-04 is not listed on IDEAS
    16. Hsing, Han-Min, 2005. "Re-examination of J-curve effect for Japan, Korea and Taiwan," Japan and the World Economy, Elsevier, vol. 17(1), pages 43-58, January.
    17. Mahesh Kumar Chaulagai Ph.D., 2015. "Devaluation and Testing the J-curve Hypothesis: A Case of Nepal," NRB Working Paper 27/2015, Nepal Rastra Bank, Research Department.
    18. Baek, Jungho & Mulik, Kranti & Koo, Won W., 2006. "The J-Curve Phenomenon: Myth or Reality?," 2006 Annual meeting, July 23-26, Long Beach, CA 21382, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    19. M. Ershad HUSSAIN & Mahfuzul HAQUE, 2014. "Is the J-Curve a Reality in Developing Countries?," Journal of Economics and Political Economy, KSP Journals, vol. 1(2), pages 231-240, December.
    20. 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.
    21. Dan Lupu & Mircea Asandului, 2014. "Exchange Rate and Trade: J-curve in European Union," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, pages 136-145.
    22. Rustam Jamilov, 2013. "J-Curve Dynamics and the Marshall–Lerner Condition: Evidence from Azerbaijan," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), pages 313-323.
    23. Jana Šimáková, 2016. "Assessing the Exchange Rate Sensitivity of Bilateral Agricultural Trade in Visegrad Countries," Working Papers 0033, Silesian University, School of Business Administration.
    24. Prakash, Kushneel & Maiti, Dibyendu, 2016. "Does devaluation improve trade balance in small island economies? The case of Fiji," Economic Modelling, Elsevier, vol. 55(C), pages 382-393.

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