Changing Terms Of Trade
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Effects Of Terms Of Trade Changes In A Public Input Economy
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Author : Sajid Anwar
language : en
Publisher:
Release Date : 1994
Effects Of Terms Of Trade Changes In A Public Input Economy written by Sajid Anwar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Terms of trade categories.
Commodity Terms Of Trade
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Author : Bertrand Gruss
language : en
Publisher: International Monetary Fund
Release Date : 2019-01-24
Commodity Terms Of Trade written by Bertrand Gruss and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-24 with Business & Economics categories.
This paper presents a comprehensive database of country-specific commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individual commodities is weighted using commodity-level trade data. The database includes a commodity terms-of-trade index—which proxies the windfall gains and losses of income associated with changes in world prices—as well as additional country-specific series, including commodity export and import price indices. We provide indices that are constructed using, alternatively, fixed weights (based on average trade flows over several decades) and time-varying weights (which can account for time variation in the mix of commodities traded and the overall importance of commodities in economic activity). The paper also discusses the dynamics of commodity terms of trade across country groups and their influence on key macroeconomic aggregates.
U S Terms Of Trade
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Author :
language : en
Publisher:
Release Date : 2004
U S Terms Of Trade written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
The nation's terms of trade -- the ratio of an index of export prices to an index of import prices -- is a measure of the export cost of acquiring desired imports. Increases and decreases in its terms of trade indicate whether a nation's gains from trade are rising or falling. A sustained trend of improvement of the terms of trade expands what our income will buy on the world market and can make a significant contribution to the long-term growth of economic welfare. Similarly, a falling terms of trade raises the export cost of acquiring imports and reduces real income and the domestic living standard. While trade is a process of mutual beneficial exchange, each trading partner's share of those benefits can change over time, and movement of the terms of trade is an indicator of that changing share. A force or forces that changes the average level of export or import prices will change a nation's terms of trade. In this regard we can first distinguish between transitory and more enduring forces. Relatively short-term changes in national spending patterns can lead to similarly short-term changes in the terms of trade. These spending changes could be the result of changes in economic policy or swings in private sector spending over the course of the business cycle. In either case, the general scenario will be that the spending change induces either an inflow or outflow of foreign capital and an associated appreciation or depreciation of the exchange rate. A more enduring effect on the terms of trade is likely to emerge from more fundamental changes in world demand and the productive prowess of the economy. In general, anything that leads to an increased demand for the nation's exports would cause that nation's terms of trade to improve. Such demand changes will often be at the caprice of shifting tastes and preferences in the market place, for good and for bad. It is also possible that an economy can do things that raise the probability that its exports will be highly desirable. A steady post-war rise in the U.S. terms of trade appears to have ended in the late 1960s. The rate of decline of the U.S. terms of trade was fairly substantial through the 1970s. In the 1980s, the pattern changed again with the terms of trade strengthening through mid-decade, then resuming its deterioration. In the 1990s, the deterioration stopped, with the terms of trade remaining relatively steady through mid-decade, then strengthening moderately through the end of the decade. By the year 2003, the U.S. terms of trade was more or less at the same level that it was in the 1980s, suggesting that the post -- 1960s trend deterioration seems to have stopped, with the U.S. terms of trade at a lower but generally stable level. The terms of trade is unlikely to be a direct focus of economic policy, with changes most often a collateral effect of policies aimed at other economic goals. Nevertheless, it is useful to understand how various economic policies would influence the terms of trade, so as to craft policies that have the greatest positive effect on economic well-being. Also, it is possible to configure policies that, while primarily focused on other goals, maximize the probability of a favorable terms of trade effect. As such, particular configurations of macroeconomic policy, trade policy, and technology policy each have the potential for improving the nation's terms of trade. This report will not be updated.
The Effect Of Terms Of Trade Changes On Welfare In Iceland
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Author : Maxime Dessy
language : en
Publisher: GRIN Verlag
Release Date : 2010-02-25
The Effect Of Terms Of Trade Changes On Welfare In Iceland written by Maxime Dessy and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-25 with Business & Economics categories.
Essay from the year 2008 in the subject Business economics - Trade and Distribution, grade: 18/20, Solvay Brussels School of Economics and Management, language: English, abstract: From 1971 to 2006, terms of trade changes had a negative and rather small effect on welfare in Iceland. For this covered period, the average yearly percentage growth of Iceland’s terms of trade was minus 0.21%. The time series diagram and the time trend line show this downward trend of Iceland’s terms of trade. The yearly average percentage change in GDP due to terms of trade was minus 0.05%. This effect is very small compared to the actual 24.34% average annual growth of Iceland's GDP (EconLit F110, F140, O470).
The Terms Of Trade Effects From The Elimination Of State Trading In Soviet Hungarian Trade
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Author : Gábor Oblath
language : en
Publisher: World Bank Publications
Release Date : 1991
The Terms Of Trade Effects From The Elimination Of State Trading In Soviet Hungarian Trade written by Gábor Oblath and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Hungary categories.
A reduction of the Soviet "subsidy" to Eastern European countries would impose greater transition costs on them just as they are attempting to make the drastic adjustments they need to move to market economies. How much of a cost will the switchover of their CMEA trade relations impose?
Changing Terms Of Trade
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Author :
language : en
Publisher:
Release Date : 2001
Changing Terms Of Trade written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with European Union countries categories.
The Impact Of The Terms Of Trade On Economic Development In The Periphery 1870 1939
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Author : Christopher Blattman
language : en
Publisher:
Release Date : 2005
The Impact Of The Terms Of Trade On Economic Development In The Periphery 1870 1939 written by Christopher Blattman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Developing countries categories.
"Most countries in the periphery specialized in the export of just a handful of primary products for most of their history. Some of these commodities have been more volatile than others, and those with more volatile prices have grown slowly relative both to the industrial leaders and to other primary product exporters. This fact helps explain the growth puzzle noted by Easterly, Kremer, Pritchett and Summers more than a decade ago: that the contending fundamental determinants of growth institutions, geography and culture exhibit far more persistence than do the growth rates they are supposed to explain. Using a new panel database for 35 countries, this paper estimates the impact of terms of trade volatility and secular change on country performance between 1870 and 1939. Volatility was much more important for accumulation and growth than was secular change. Additionally, both effects were asymmetric between Core and Periphery, findings that speak directly to the terms of trade debates that have raged since Prebisch and Singer wrote more than 50 years ago. The paper also investigates one channel of impact, and finds that foreign capital inflows declined steeply where commodity prices were volatile"--NBER website
Essays On Terms Of Trade Changes And International Adjustment
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Author : Robert Stephen Dohner
language : en
Publisher:
Release Date : 1979
Essays On Terms Of Trade Changes And International Adjustment written by Robert Stephen Dohner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Foreign exchange categories.
The Balance Of Trade The Terms Of Trade And The Real Exchange Rate
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-01-01
The Balance Of Trade The Terms Of Trade And The Real Exchange Rate written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-01-01 with Business & Economics categories.
This paper uses an intertemporal optimizing model of a small open economy to analyze how terms of trade changes affect real exchange rates and the trade balance. We consider temporary current, anticipated future, and permanent changes in the terms of trade. The results suggest that the relationship between the terms of trade and the current account (the so-called Harberger-Laursen-Metzler effect) may be quite sensitive to whether or not the model incorporates nontraded goods. Thus, the real exchange rate may be an important variable through which terms of trade shocks are transmitted to the current account.
Differential Changes In Productivity And The Terms Of Trade
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Author : Michael C. Dakolias
language : en
Publisher:
Release Date : 1960
Differential Changes In Productivity And The Terms Of Trade written by Michael C. Dakolias and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1960 with categories.