Marshall-Lerner condition
English edit
Etymology edit
Named after Alfred Marshall and Abba P. Lerner.
Noun edit
Marshall-Lerner condition (plural Marshall-Lerner conditions)
- (economics) The condition that an exchange rate devaluation or depreciation will only cause a balance of trade improvement if the absolute sum of the long run export and import demand elasticities is equal to, or greater than 1.
Translations edit
Marshall-Lerner condition
|