{"id":117724,"date":"2024-01-22T20:39:59","date_gmt":"2024-01-22T19:39:59","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/117724\/"},"modified":"2025-10-22T21:50:29","modified_gmt":"2025-10-22T19:50:29","slug":"currency-fluctuations-and-the-french-u-s-trade-balance-evidence-from-118-industries","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/117724\/","title":{"rendered":"Currency fluctuations and the French-U.S. trade balance: evidence from 118 industries"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-117724","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The impact of currency depreciations on trade has inspired a large body of research. Recent studies have examined industry-level trade, often using cointegration analysis, finding that a significant fraction of industries respond positively to devaluations. Oftentimes, adjustment lags result in a \"J curve\" effect, where devaluations hurt the trade balance temporarily. This study examines the specific case of trade between the USA and France, but finds that these flows are less sensitive than has been shown for other country pairs. Only 30 of 118 industries see increased trade balances after a dollar depreciation, and virtually none follow any type of a J curve. Certain industry sectors are more sensitive than others, however. Examining the SITC classifications of those 30 industries, we find that many of them are clustered in the SITC 700 (machinery and transport equipment) and 800 (miscellaneous manufactured articles) categories. In particular, clothing and footwear, as well as electrical equipment, are particularly affected.","onlinedate":"2013-05-01 02:00:00","lang":"English","publication_series":"","publication_date":"20130501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Industry trade Bounds testing United States USA France\"]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"http:\/\/www.springer.com\/10663","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"40","monthly_report_pages":"237-257","monthly_report_pages_sort":"237","issue":"2","journal":"Empirica","publisher":"","invisible":false,"external":true,"embargo_date":null,"types":[83083],"research_groups":[3491],"collaboration":"","persons":[11791,11793,11795],"persons_data":"[{\"personId\":11791,\"personName\":\"Mohsen Bahmani-Oskooee\",\"organisationNames\":[]},{\"personId\":11793,\"personName\":\"Hanafiah Harvey\",\"organisationNames\":[]},{\"personId\":11795,\"personName\":\"Scott W. Hegerty\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v26.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Currency fluctuations and the French-U.S. trade balance: evidence from 118 industries - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/117724\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Currency fluctuations and the French-U.S. trade balance: evidence from 118 industries\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/117724\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-22T19:50:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.wifo.ac.at\/en\/publication\/117724\/\",\"url\":\"https:\/\/www.wifo.ac.at\/en\/publication\/117724\/\",\"name\":\"Currency fluctuations and the French-U.S. trade balance: evidence from 118 industries - 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