Chiu, Yi-Bin; Lee, Chien-Chiang; Sun, Chia-Hung - In: Economic Modelling 27 (2010) 3, pp. 705-716
The United States economy suffers from persistent trade deficits, arising from the so-called 'global external imbalance'. Can the depreciation of the US dollar improve this phenomenon? This study for the first time applies the heterogeneous panel cointegration method to examine the long-run...