The J-Curve: a literature review

References

• Alesina , A , Gruen , DWR and Jones , MT . 1991 . Fiscal adjustment, the real exchange rate and Australia's external imbalance . Australian Economic Review , July-Sept ( 95 ) : 38 – 51 .
   Google Scholar
• Arora , S , Bahmani-Oskooee , M and Goswami , GG . 2003 . Bilateral J-curve between India and her trading partners . Applied Economics , 35 : 1037 – 41 .
   Web of Science ®Google Scholar
• Arndt HW Dorrance G 1987 The J-curve The Australian Economic Review 1st quarter 9 19
   Google Scholar
• Bacchette , P and Gerlach , S . 1994 . Sticky import prices and J-curves . Economic Letters , 44 ( 3 ) : 281 – 5 .
   Web of Science ®Google Scholar
• Backus , DK , Kehoe , PJ and Kydland , FE . 1998 . Dynamics of the trade balance and the term of trade: the J-curve? . American Economic Review , 84 : 84 – 103 .
   Google Scholar
• Baharumshah , AZ . 2001 . The effect of exchange rate on bilateral trade balance: new evidence from Malaysia and Thailand . Asian Economic Journal , 15 : 291 – 312 .
   Google Scholar
• Bahmani-Oskooee , M . 1995 . The long-run determinants of US trade balance revisited . Journal of Post Keynesian Economics , 17 ( 3 ) : 435 – 43 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M . 1985 . Devaluation and the J-curve: some evidence from LDCs . The Review of Economics and Statistics , 67 : 500 – 504 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M . 1986 . Determination of international trade flows: the case of developing countries . Journal of Development Economics , 20 : 107 – 23 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M . 1989a . Devaluation and the J-curve: some evidence from LDCs: errata . The Review of Economics and Statistics , 71 : 553 – 4 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M . 1989b . Effects of the US government budget on its current account: an empirical inquiry . Quarterly Review of Economics and Statistics , 29 : 76 – 91 .
   Google Scholar
• Bahmani-Oskooee , M . 1998 . Are devaluations contractionary in LDCs? . Journal of Economic Development , 23 : 131 – 44 .
   Google Scholar
• Bahmani-Oskooee , M and Alse , J . 1994 . Short-run versus long-run effects of devaluation: error correction modeling and cointegration . Eastern Economic Journal , 20 ( 4 ) : 453 – 64 .
   Google Scholar
• Bahmani-Oskooee , M and Brooks , TJ . 1999 . Bilateral J-curve between US and her trading partners . Weltwirtschaftliches Archiv , 135 : 156 – 65 .
   Google Scholar
• Bahmani-Oskooee , M and Malixi , M . 1992 . More evidence on the J-curve from LDCs . Journal of Policy Modeling , 14 : 641 – 53 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M and Pourheydarian , M . 1991 . The Australian J-curve: a reexamination . International Economic Journal , 5 : 49 – 58 .
   Google Scholar
• Bahmani-Oskooee , M and Niroomand , F . 1998 . Long-run price elasticities and the Marshall–Lerner condition revisited . Economics Letters , 61 : 101 – 9 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M and Tatchawan , K . 2001 . Bilateral J-curve between Thailand and her trading partners . Journal of Economic Development , 26 : 107 – 17 .
   Google Scholar
• Bahmani-Oskooee , M and Goswami , GG . 2003 . A disaggregated approach to test the J-curve phenomenon: Japan vs. her major trading partners . Journal of Economics and Finance , 27 : 102 – 13 .
   Google Scholar
• Bahmani-Oskooee M Artatrana R 2004a The J-curve dynamics of US bilateral trade Journal of Economics and Finance forthcoming
   Google Scholar
• Bahmani-Oskooee M Artatrana R 2004b Dynamics of US trade with developing countries Journal of Developing Areas forthcoming
   Google Scholar
• Baluswar , MD , Thomson , H and Upadhyay , KP . 1996 . Devaluation and the trade balance in India: stationarity and cointegration . Applied Economics , 10 ( 2 ) : 263 – 72 .
   Google Scholar
• Boucher , JL . 1991 . The US current account: a long and short-run empirical perspective . Southern Economic Journal , 58 ( 1 ) : 93 – 111 .
   Web of Science ®Google Scholar
• Breuer , JB and Clements , LA . 2003 . The commodity composition of US-Japanese trade and the Yen/Dollar real exchange rate . Japan and the World Economy , 15 : 307 – 30 .
   Web of Science ®Google Scholar
• Brissimis , SN and Leventakis , JA . 1989 . The effectiveness of devaluation: a general equilibrium assessment with reference to Greece . Journal of Policy Modeling , 11 ( 2 ) : 247 – 71 .
   Web of Science ®Google Scholar
• Carter , CA and Pick , DH . 1989 . The J-curve effect and the US agriculture trade balance . American Journal of Agriculture Economics , 71 : 712 – 20 .
   Web of Science ®Google Scholar
• Chen , L-L and Devereux , J . 1994 . Import prices, export prices and the current account: an asymmetry . Economic Letters , 44 ( 4 ) : 415 – 20 .
   Web of Science ®Google Scholar
• Connolly M Taylor D 1972 Devaluation in less developed countries, prepared for a conference on devaluation sponsored by the Board of Governors Federal Reserve System, Washington, DC, December
   Google Scholar
• Cooper RN 1971 Currency devaluation in developing countries Essays in International Finance, no. 86, Princeton University, International Finance Section, Princeton, NJ
   Google Scholar
• Demirden , T and Pastine , I . 1995 . Flexible exchange rates and the J-curve: an alternative approach . Economics Letters , 48 : 373 – 7 .
   Web of Science ®Google Scholar
• Dibooglu , S . 1997 . Accounting for US current account deficits: an empirical investigation . Applied Economics , 29 ( 6 ) : 787 – 93 .
   Web of Science ®Google Scholar
• Doroodian , K , Jung , C and Boyd , R . 1999 . The J-curve effect and US agricultural and industrial trade . Applied Economics , 31 : 687 – 95 .
   Web of Science ®Google Scholar
• Engle , R and Granger , CWJ . 1987 . Cointegration and error correction: representation, estimation, and testing . Econometrica , 55 : 251 – 76 .
   Web of Science ®Google Scholar
• Flemingham , BS . 1988 . Where is the Australian J-curve? . Bulletin of Economic Research , 40 ( 1 ) : 43 – 56 .
   Google Scholar
• Froot , KA and Klemperer , PD . 1989 . Exchange rate pass-through when market share matters . American Economic Review , 79 ( 4 ) : 637 – 54 .
   Web of Science ®Google Scholar
• Fry , MJ . 1991 . Long-run and short-run behavior of Korea's current account . International Economic Journal , 5 ( 4 ) : 93 – 117 .
   Google Scholar
• Gerlach , S . 1989 . Intertemporal speculation, devaluation, and the J-curve . Journal of International Economics , 27 ( 3–4 ) : 335 – 45 .
   Web of Science ®Google Scholar
• Goldstein , M and Khan , MS . 1978 . The supply and demand for exports: a simultaneous approach . Review of Economics and Statistics , 60 : 275 – 86 .
   Web of Science ®Google Scholar
• Gupta-Kapoor , A and Ramakrishnan , U . 1999 . Is there a J-curve? A new estimation for Japan . International Economic Journal , 13 : 71 – 9 .
   Google Scholar
• Hacker , RS and Abdulnasser , H-J . 2003 . Is the J-curve effect observable for small North European economies? . Open Economies Review , 14 : 119 – 34 .
   Web of Science ®Google Scholar
• Haynes S Stone J 1982 Impact of the terms of trade on the US trade balance: a reexamination Review of Economics and Statistics 702 6
   Google Scholar
• Himarios , D . 1985 . The effects of devaluation on the trade balance: a critical view and reexamination of Miles's (New Results) . Journal of International Money and Finance , 4 : 553 – 63 .
   Web of Science ®Google Scholar
• Himarios , D . 1989 . Do devaluations improve the trade balance? The evidence revisited . Economic Enquiry , 27 : 143 – 68 .
   Web of Science ®Google Scholar
• Hoque , A . 1995 . Terms of trade and current account deficit in the Australian context . Journal of Quantitative Economics , 27 ( 11 ) : 169 – 79 .
   Google Scholar
• Husted , S . 1992 . The emerging US current account deficit in the 1980s: a cointegration analysis . Review of Economic and Statistics , 74 ( 1 ) : 159 – 66 .
   Web of Science ®Google Scholar
• Johansen S Jusilius K 1990 Maximum likelihood estimation and inference on cointegration – with applications to the demand for money Oxford Bulletin of Economics and Statistics May 169 210
   Google Scholar
• Jung , C and Doroodian , K . 1998 . The persistence of Japan's trade surplus . International Economic Journal , 12 ( 1 ) : 1 – 25 .
   Google Scholar
• Junz , HB and Rhomberg , RR . 1973 . Price-competitiveness in export trade among industrial countries . American Economic Review , 63 ( 2 ) : 412 – 18 .
   Web of Science ®Google Scholar
• Kapur , BK . 1989 . The J-curve and the short-run exchange rate dynamics . International Economic Journal , 3 ( 3 ) : 85 – 104 .
   Google Scholar
• Karadeloglou , P . 1990 . On the existence of an inverse J-curve . Greek Economic Review , 12 ( 2 ) : 285 – 305 .
   Google Scholar
• Karunaratne , ND . 1988 . Macro-economic determinants of Australia's current account, 1977–86 . Weltwirtschaftliches Archiv , 124 ( 4 ) : 712 – 28 .
   Google Scholar
• Krugman , P . 1989 . The J-curve, the fire sale, and the hard landing . American Economic Review , 79 : 31 – 5 .
   Web of Science ®Google Scholar
• Laffer AB 1976 Exchange rates, the terms of trade, and the trade balance Effects of Exchange Rate Adjustments Washington, Treasury Department, OASIA Res
   Google Scholar
• Lal , AK and Lowinger , TC . 2002 . The J-curve: evidence from East Asia . Journal of Economic Integration , 17 : 397 – 415 .
   Google Scholar
• Lee J Chinn MD 2002 Current account and real exchange rate dynamics in the G-7 countries IMF Working Paper (#WP/02/130)
   Google Scholar
• Levin , JH . 1983 . The J-curve, rational expectations, and the stability of the flexible exchange rate system . Journal of International Economics , 15 : 239 – 51 .
   Web of Science ®Google Scholar
• Magee , SP . 1973 . Currency contracts, pass through and devaluation . Brooking Papers on Economic Activity , 1 : 303 – 25 .
   Google Scholar
• Mahdavi , S and Sohrabian , A . 1993 . The exchange value of the dollar and the US trade balance: an empirical investigation based on cointegration and Granger causality tests . Quarterly Review of Economics and Finance , 33 ( 4 ) : 343 – 58 .
   Web of Science ®Google Scholar
• Miles , MA . 1979 . The effects of devaluation on the trade balance and the balance of payments: some new results . Journal of Political Economy , 87 ( 3 ) : 600 – 20 .
   Web of Science ®Google Scholar
• Marwah , K and Klein , LR . 1996 . Estimation of J-curve: United States and Canada . Canadian Journal of Economics , 29 : 523 – 39 .
   Web of Science ®Google Scholar
• Meade EE 1988 Exchange rates, adjustment, and the J-curve Federal Reserve Bulletin October 633 44
   Google Scholar
• Moffett , MH . The J-curve revisited: an empirical examination for the United States . Journal of International Money and Finance , 8 1989, 425 – 44 .
   Web of Science ®Google Scholar
• Noland , M . 1989 . Japanese trade elasticities and the J-curve . Review of Economics and Statistics , 71 : 175 – 9 .
   Web of Science ®Google Scholar
• Pesaran MH Shin Y 1995 An autoregressive distributed lag modeling approach to cointegration analysis in Centennial Volume of Rangar Frisch (Eds) S. Strom, A. Holly, and P. Diamond Cambridge University Press Cambridge
   Google Scholar
• Pesaran , MH , Shin , Y and Smith , RJ . 2001 . Bounds testing approaches to the analysis of level relationships . Journal of Applied Econometrics , 16 : 289 – 326 .
   Web of Science ®Google Scholar
• Rose , AK . 1990 . Exchange rates and the trade balance: some evidence from developing countries . Economics Letters , 34 : 271 – 5 .
   Web of Science ®Google Scholar
• Rose , AK and Yellen , JL . 1989 . Is there a J-curve? . Journal of Monetary Economics , 24 : 53 – 68 .
   Web of Science ®Google Scholar
• Rosensweig JA Koch PD 1988 The US dollar and the ‘Delayed J-curve’ Economic Review July/August, Federal Reserve of Atlanta
   Google Scholar
• Salant M 1976 Devaluations improve the balance of payments even if not the trade balance Effects of Exchange Rate Adjustments Washington, Treasury Department, OASIA Res.
   Google Scholar
• Senhadji , AS . 1998 . Dynamics of the trade balance and the terms of trade in LDCs: the S-curve . Journal of International Economics , 46 : 105 – 31 .
   Web of Science ®Google Scholar
• Shirvani , H and Wilbratte , B . 1997 . The relation between the real exchange rate and the trade balance: an empirical reassessment . International Economic Journal , 11 ( 1 ) : 39 – 49 .
   Google Scholar
• Stock , JH and Watson , MW . 1988 . Testing for common trends . Journal of the American Statistical Association , 83 : 1097 – 107 .
   Web of Science ®Google Scholar
• Sundararajan , S and Bhole , LM . 1988 . Testing the effects of devaluation on the balance of payments in India . Indian Journal of Quantitative Economics , 4 ( 2 ) : 1 – 13 .
   Google Scholar
• Wassink , D and Carbaugh , R . 1989 . Dollar-Yen exchange rate effects on trade . Rivista Int. Sci Econ. Com , 36 ( 12 ) : 1075 – 88 .
   Google Scholar
• Wilson , P . 2001 . Exchange rates and the trade balance for dynamic Asian economies: does the J-curve exist for Singapore, Malaysia and Korea? . Open Economies Review , 12 : 389 – 413 .
   Web of Science ®Google Scholar
• Zhang Z 1996 The exchange value of the Renminbi and China's balance of trade: an empirical study NBER Working Papers Series Working Paper #5771
   Google Scholar