English Explanatory Dictionary

Marshall-Lerner condition

English dictionary entry

Meanings

noun
  1. 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.

Word forms

Marshall-Lerner condition Marshall-Lerner conditions

Etymology

Named after Alfred Marshall and Abba P. Lerner.

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