| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3916 |
| 来源ID | Working Paper 3916 |
| The Impact of Terms of Trade Shocks on a Small Open Economy: A Stochastic Analysis | |
| Stephen J. Turnovsky | |
| 发表日期 | 1991-11-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | This paper investigates the impact of change in the terms of trade on the economic performance of a small economy. Both the effects of unanticipated shocks and changes in the mean and variance of the probability distribution generating these disturbances are discussed. In all cases, the key element determining the response of the economy is the effect on the rate of growth of real wealth, to which all other real quantities are directly tied in equilibrium. Conditions for the Harberger-Laursen-Metzler effect to hold are discussed. The impact of these changes on economic welfare, as measured by expected discounted utility of the representative agent is also addressed. |
| 主题 | International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w3916 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561250 |
| 推荐引用方式 GB/T 7714 | Stephen J. Turnovsky. The Impact of Terms of Trade Shocks on a Small Open Economy: A Stochastic Analysis. 1991. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3916.pdf（394KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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