Bahmani-Oskooee, Mohsen; Harvey, Hanafiah; Hegerty, Scott - In: Empirica 40 (2013) 2, pp. 237-257
The impact of currency depreciations on trade has inspired a large body of research. Recent studies have examined industry-level trade, often using cointegration analysis, finding that a significant fraction of industries respond positively to devaluations. Oftentimes, adjustment lags result in...