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Current Account Dynamics and the Terms of Trade: Harberger-Laursen-Metzler Two Generations Later
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1984 (English)Report (Other academic)
Abstract [en]

This is a study of the current account dynamics resulting from the savings and investment dynamics in a small open economy which is subject to exogenous changes in its terms of trade and in world interest rates.

Anticipated and unanticipated, as well as temporary and permanent, terms of trade changes have very different effects. There is, however, a general tendency towards cycles in both savings and investment, which gives rise to cycles in the current account.

It is shown that the classic Harberger-Laursen-Metzler effect on saving of a terms of trade deterioration can have any sign for plausible parameter values, both for temporary and permanent disturbances.

Place, publisher, year, edition, pages
Stockholm: IIES , 1984. , 41 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 277
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41272OAI: oai:DiVA.org:su-41272DiVA: diva2:329274
Available from: 2010-07-09 Created: 2010-07-09 Last updated: 2010-07-09Bibliographically approved

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Persson, TorstenSvensson, Lars E.O.
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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • ieee
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  • Other style
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Language
  • de-DE
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  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
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  • Other locale
More languages
Output format
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  • asciidoc
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