Although oil prices likely influence the trade balance via macroeconomy channels (i.e. exchange rates and income), less widely recognized is the possibility of such an effect in investigating the hypothesis of a J-Curve. Thus, the primary thrust of this paper is to investigate the effect of oil prices on the J-Curve using bilateral trade data between Korea and her 14 largest partners. We uncover that the price of crude oil is indeed important in affecting the Korean trade balance and thus further validity evidence of the J-Curve. We further discover that incorporating exchange rate asymmetry provides more evidence supporting the J-Curve in the Korean trade balance.

中文翻译：

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J 曲线与韩国的双边贸易：原油价格的作用

尽管石油价格可能通过宏观经济渠道（即汇率和收入）影响贸易平衡，但在研究 J 曲线假设时这种影响的可能性不太被广泛认可。因此，本文的主要目的是利用韩国与其 14 个最大合作伙伴之间的双边贸易数据来研究油价对 J 曲线的影响。我们发现原油价格确实对影响韩国贸易平衡很重要，因此进一步证明了 J 曲线的有效性。我们进一步发现，纳入汇率不对称为支持韩国贸易平衡中的 J 曲线提供了更多证据。