| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP90 |
| DP90 Primary Commodity Prices, the Business Cycle and the Real Exchange Rate of the Dollar | |
| Sweder van Wijnbergen | |
| 发表日期 | 1985-12-01 |
| 出版年 | 1985 |
| 语种 | 英语 |
| 摘要 | An empirical stylized fact is that primary exporters' terms of trade worsen when the dollar appreciates and improve when the dollar depreciates. In our theoretical analysis, we demonstrate that an appreciation of the dollar will worsen a primary exporter's terms of trade, the smaller the United States share in the world market for the primary commodity, the lower the United States demand elasticity for that good, and the larger the United States share in the exporter's imports. We present empirical findings that support the theoretical analysis. We also find strong evidence of the cyclical sensitivity and the secular decline of real commodity prices. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Cyclical movements Dollar appreciation Primary producers Real commodity prices Secular movements Terms of trade |
| URL | https://cepr.org/publications/dp90 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529246 |
| 推荐引用方式 GB/T 7714 | Sweder van Wijnbergen. DP90 Primary Commodity Prices, the Business Cycle and the Real Exchange Rate of the Dollar. 1985. |
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