Hysteresis in Foreign Trade – A New Empirical Approach / Hysterese im Außenhandel – Ein neuer empirischer Ansatz

Dannenbaum Joachim
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Dannenbaum Joachim: Institut für Außenhandel und Wirtschaftsintegration, Universität Hamburg, Von Melle Park 5, D-20146 Hamburg

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1998, vol. 217, issue 5, 589-612

Abstract: This paper expands the empirical analysis of hysteresis in trade in two directions. First, it uses disaggregate data for exports from Germany to the U.S. to minimise aggregation problems. Second, it introduces a new non-linear model to test for the non-linear parameter. The model is flexible in the functional form of hysteresis and it allows for testing weak vs. strong hysteresis and perfect hysteresis vs. strong persistence. The result shows that previous tests made too restrictive assumptions and by correcting them, hysteresis can be found in most of the sectors. Finally, it compares the results with proxies for possible explanations of hysteresis.

Keywords: Foreign trade; hysteresis; exchange rate pass through; sectoral evidence; Außenhandel; Hysterese; Wechselkurs; Marktmacht; sektorale Empirie (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:217:y:1998:i:5:p:589-612

DOI: 10.1515/jbnst-1998-0505

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