کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
966230 | 930939 | 2008 | 22 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Terms of trade and current account fluctuations: The Harberger-Laursen-Metzler effect revisited
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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![عکس صفحه اول مقاله: Terms of trade and current account fluctuations: The Harberger-Laursen-Metzler effect revisited Terms of trade and current account fluctuations: The Harberger-Laursen-Metzler effect revisited](/preview/png/966230.png)
چکیده انگلیسی
This paper investigates whether extending the intertemporal model of the current account to allow for variations in the terms of trade improves its ability to fit the data. It derives a testable present-value representation of the current account that encompasses the Harberger-Laursen-Metzler (HLM) effect, according to which a temporary rise in the terms of trade improves the current account. The present-value model is tested using data from Australia, Canada, and the United Kingdom. The results show that terms-of-trade movements do not affect the current account in a significant way, and that, in two of the three cases, the model is strongly rejected by the data.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Macroeconomics - Volume 30, Issue 1, March 2008, Pages 260-281
Journal: Journal of Macroeconomics - Volume 30, Issue 1, March 2008, Pages 260-281
نویسندگان
Hafedh Bouakez, Takashi Kano,