Terms-of-Trade Cycles and External Adjustment /
We study the process of external adjustment to large terms-of-trade level shifts-identified with a Markov-switching approach-for a large set of countries during the period 1960-2015. We find that adjustment to these shocks is relatively fast. Current accounts experience, on average, a contemporaneou...
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| Другие авторы: | , |
| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
2017.
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| Серии: | IMF Working Papers; Working Paper ;
No. 2017/029 |
| Online-ссылка: | Full text available on IMF |