Marquez, Jaime - Federal Reserve Board (Board of Governors of the … - 2005
macroeconomic developments are not applicable to the equally persistent surplus in U.S. net exports of services unless the income … elasticities for services exhibit the reversed asymmetry. There have been surprisingly few attempts to demonstrate the existence of ….S. trade in services and evaluate the importance of simultaneity and aggregation biases. The analysis reveals two findings …