Marshall-Lerner condition

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English

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Etymology

Named after Alfred Marshall and Abba P. Lerner.

Noun

Marshall-Lerner condition (plural Marshall-Lerner conditions)

  1. (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

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