haku: @indexterm trade policy / yhteensä: 743
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| Tekijä: | Kohli, U. |
| Otsikko: | Real GDP, real domestic income, and terms-of-trade changes |
| Lehti: | Journal of International Economics
2004 : JAN, VOL. 62:1, p. 83-106 |
| Asiasana: | Economic growth Gross national product Incomes Trade policy |
| Kieli: | eng |
| Tiivistelmä: | Real GDP has tension to underestimate the increase in real domestic income and welfare when the terms of trade improve. An improvement in the terms of trade is similar to a technological progress, but when computing real GDP, the national accounts treat the former as a price phenomenon and the latter as a real event. Calculations for 26 countries show that the divergence can add up to more than 10% of GDP in less than two decades. |
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