Marshall-Lerner condition

Etymology
Named after Alfred Marshall and Abba P. Lerner.

Noun

 * 1)  The condition that an exchange rate devaluation or depreciation will only cause a balance of trade improvement if the absolute sum of the long run export and import demand elasticities is equal to, or greater than 1.

Translations

 * Czech: Marshall–Lernerova podmínka
 * Portuguese: condição de Marshall-Lerner, condição Marshall-Lerner