Bahmani-Oskooee, Mohsen; Hosny, Amr - In: Empirica 42 (2015) 1, pp. 1-24
Orcutt hypothesized that trade flows respond faster to a change in the nominal exchange rate as compared to a change in relative prices. Although he recommended testing his hypothesis at commodity level, due to lack of commodity prices previous studies used aggregate trade flows of one country...