| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4242 |
| 来源ID | Working Paper 4242 |
| Dynamics of the Trade Balance and the Terms of Trade: The S-Curve | |
| David Backus; Patrick J. Kehoe; Finn E. Kydland | |
| 发表日期 | 1992-12-01 |
| 出版年 | 1992 |
| 语种 | 英语 |
| 摘要 | We provide a theoretical interpretation of two features of international data: the countercyclical movements in net exports and the tendency for the trade balance to be negatively correlated with current and future movements in the terms of trade, but positively correlated with past movements. We document these same properties in a two-country stochastic growth model in which trade fluctuations reflect, in large part, the dynamics of capital formation. We find that the general equilibrium perspective is essential: The relation between the trade balance and the terms of trade depends critically on the source of fluctuations. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w4242 |
| 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/561601 |
| 推荐引用方式 GB/T 7714 | David Backus,Patrick J. Kehoe,Finn E. Kydland. Dynamics of the Trade Balance and the Terms of Trade: The S-Curve. 1992. |
| 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 | ||
| w4242.pdf（2575KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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