Petrović, Pavle; Gligorić, Mirjana - In: Panoeconomicus 57 (2010) 1, pp. 23-41
This paper shows that exchange rate depreciation in Serbia improves trade balance in the long run, while giving rise to …-run estimates showing that real depreciation improves trade balance. Corresponding errorcorrection models as well as impulse … response functions indicate that, following currency depreciation, trade balance first deteriorates before it later improves, i …