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|c 5.00 USD
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|z 9781451852066
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Mendoza, Enrique.
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|a The Terms of Trade and Economic Fluctuations /
|c Enrique Mendoza.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1992.
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| 300 |
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|a 1 online resource (72 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a A three-good, stochastic intertemporal equilibrium model of a small open economy is used to examine the link between terms of trade and business cycles. Equilibrium co-movements of model economies representing industrial and developing countries are computed and compared with the stylized facts of 30 countries. The results show that terms-of-trade shocks account for half of observed output variability and that the model mimics the Harberger-Laursen-Metzler effect and produces large deviations from purchasing power parity. The elasticity of substitution between tradable and nontradable goods and the persistence of the shocks play a key role in producing these results.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1992/098
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1992/098/001.1992.issue-098-en.xml
|z IMF e-Library
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