search query: @indexterm TERMS OF TRADE / total: 22
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| Author: | Otto, G. |
| Title: | Terms of trade shocks and the balance of trade: there is a Harberger-Laursen-Metzler effect |
| Journal: | Journal of International Money and Finance
2003 : APR, VOL. 22:2, p. 155-184 |
| Index terms: | Terms of trade Vector autoregression models Visible balance |
| Language: | eng |
| Abstract: | An exogenous increase in the terms of trade faced by a small open economy leads to an improvement in that country's trade balance according to the Harberger-Laursen-Metzler (HLM) effect. Structural vector autoregression techniques are used to investigate whether there is any systematic pattern in the responses of the trade balance to terms of trade shocks for a large number of small open economies. |
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