Current account dynamics and the terms of trade : Harberger-Laursen-Metzler two generations later

This is a study of the current account dynamics resulting from the savings and investment dinamycs in a samll open economy that 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...

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Bibliographic Details
Main Authors: Persson, Torsten, Svensson, Lars E. O
Format: Book
Published: Chicago, Ill. University of Chicago Press February 1985
Series:Journal of Political Economy n. 1
Subjects:
LEADER 00000nam a2200000 a 4500
082 |a H 58140 n. 1, 1985 
090 |c 20339  |d 20339 
100 |a Persson, Torsten 
100 |a Svensson, Lars E. O 
245 |a Current account dynamics and the terms of trade : Harberger-Laursen-Metzler two generations later 
260 |b University of Chicago Press 
260 |a Chicago, Ill. 
260 |c February 1985 
300 |a pp. 43-65  |b il. 
490 |a Journal of Political Economy  |v n. 1  |x 00223808 
504 |a Incluye bibliografía 
520 |a This is a study of the current account dynamics resulting from the savings and investment dinamycs in a samll open economy that 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 toward 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 savig of a terms-of-trade deterioration can have any sign for plausible parameter values, both for temporary and permanent disturbanses.  
650 |a TASA DE INTERES  
650 |a AHORROS  
650 |a INVERSIONES 
942 |c ANAR  |j H 58140 n. 1, 1985 
999 |c 20290  |d 20290