Bahmani, Mohsen; Harvey, Hanafiah; Hegerty, Scott W. - In: Journal of Economic Studies 40 (2013) 3, pp. 411-443
Purpose – The Marshall‐Lerner (M‐L) condition, which stipulates that a devaluation or depreciation of its currency will improve a country's trade balance only if the sum of the absolute values of a country's import and export price elasticities are greater than one, is a fundamental tenet...