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Real Effective Exchange Rates and Export Adjustment in the U. S.

Abdulhamid Sukar
Quarterly Journal of Business and Economics
Vol. 37, No. 1 (Winter, 1998), pp. 3-12
Published by: Creighton University
Stable URL: http://www.jstor.org/stable/40473231
Page Count: 10
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Real Effective Exchange Rates and Export Adjustment in the U. S.
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Abstract

The persistence of trade deficits despite significant depreciation of the U. S. dollar since the mid-1980s has raised questions about the impact of exchange rates on international trade. This article investigates how U. S. export is dynamically associated with foreign income and the real effective exchange rate of the U. S. using cointegration and error correction models. Cointegration results indicate a direct relationship between exports and foreign income and an inverse relationship between U. S. exports and real exchange rates. The error correction model indicates a significant short-run relationship between changes in exports and changes in foreign income.

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