La condition de Marshall-Lerner-Robinson est-elle stable ? Approche par le test GLS cointégration à niveau et puissance améliorés

Ghassan, Hassan B. (2007): La condition de Marshall-Lerner-Robinson est-elle stable ? Approche par le test GLS cointégration à niveau et puissance améliorés. Published in: Revue des Economies Nord Africaines , Vol. 5, No. 1 (15 January 2008): pp. 21-48.

Abstract

The paper aims to test the Marshall-Lerner-Robinson condition by using the unit-root test of Ng-Perron (2001) and the 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 are related in particular to market mechanisms and economic policies of the government.

https://www.univ-chlef.dz/renaf/Articles_Renaf_N_05/article_18.pdf

• Item Type: MPRA Paper
• English Title: Does the Marshall-Lerner-Robinson condition verify the stability? Evidence from GLS-cointegration test with Good Size and Power
• Language: French
• Keywords: Critical elasticity, Deficit trade, Effective exchange rate, Cointegration.
• Subjects: C - Mathematical and Quantitative Methods > C5 - Econometric Modeling; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance

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