Marshall-Lerner Condition and the Balance of Payments Constrained Growth: The Spanish Case
Bibliographic record
Abstract
This paper develops an analytical reformulation of the Marshall-Lerner condition. This reformation of the Marshall-Lerner condition leads us to reformulate both the Thirwal¡äs model and the Krugman¡äs rule in open economies, under the following terms: in the long run, if the MarshallLerner condition is maintained, the balance of payments constrained growth income not only depends on export and import income elasticities, but also on the cross-elasticity values between exports and imports. The analytical development has a series of implications for empirical studies about the Foreign Sector: export and import functions must be estimated considering the possibility of high cross correlations between them in the modelled countries. In the case of Spain, the longterm estimations of the price elasticities of exports and imports, and the respective cross elasticities, lead us to conclude that currency devaluation would, in the long term, improve the balance of trade and increase the constrained growth income in relation with the strong version of Thirwall¡äs law.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.005 |
| Meta-epidemiology (narrow) | 0.001 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.001 | 0.004 |
| Scholarly communication | 0.003 | 0.006 |
| Open science | 0.001 | 0.003 |
| Research integrity | 0.002 | 0.002 |
| Insufficient payload (model declined to judge) | 0.009 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".