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Rapid Current Account Adjustments

Rapid Current Account Adjustments »

Source: Rapid Current Account Adjustments : Are Microstates Different?

Volume/Issue: 2008/233

Series: IMF Working Papers

Author(s): Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870916

Keywords: Terms of trade shocks, microstates, terms of trade, trade shocks, terms of trade shock, trade shock,

We describe unique aspects of microstates-they are less diversified, suffer from lumpiness of investment, they are geographically at the periphery and prone to natural disasters, and have less access to capital mar...

Terms of Trade Shocks and Economic Recovery

Terms of Trade Shocks and Economic Recovery »

Source: Terms of Trade Shocks and Economic Recovery

Volume/Issue: 2008/36

Series: IMF Working Papers

Author(s): Patrick Imam , Eleonara Granziera , and Norbert Funke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

ISBN: 9781451868982

Keywords: Growth, terms of trade shocks, trade shocks, trade shock, terms of trade shock,

This paper identifies factors that contribute to a fast recovery in growth after persistent negative terms of trade shocks, using a sample of 159 countries for 1970-2006. The results suggest that policies matter. F...

What Makes Growth Sustained?

What Makes Growth Sustained? »

Source: What Makes Growth Sustained?

Volume/Issue: 2008/59

Series: IMF Working Papers

Author(s): Jonathan Ostry , Andrew Berg , and Jeronimo Zettelmeyer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

ISBN: 9781451869217

Keywords: Growth, Accelerations, Structural Breaks, terms of trade, inflation, terms of trade shocks, external shocks, trade shocks,

We identify structural breaks in economic growth in 140 countries and use these to define "growth spells:" periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sam...

Foreign Reserve Adequacy in Sub-Saharan Africa

Foreign Reserve Adequacy in Sub-Saharan Africa »

Source: Foreign Reserve Adequacy in Sub-Saharan Africa

Volume/Issue: 2008/150

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870084

Keywords: Balance of Payments Crises, Terms of Trade and Aid Shocks, terms of trade, terms of trade shock, trade shock, tradable goods, terms of trade shocks,

This paper looks at the question of adequacy of reserves in sub-Saharan African countries in light of the shocks faced by these countries. Literature on optimal reserves so far has not paid attention to the particu...

Private Saving and Terms of Trade Shocks

Private Saving and Terms of Trade Shocks »

Source: Private Saving and Terms of Trade Shocks : Evidence From Developing Countries

Volume/Issue: 1991/100

Series: IMF Working Papers

Author(s): Jonathan Ostry , and Carmen Reinhart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1991

ISBN: 9781451852318

Keywords: terms of trade, terms of trade shocks, elasticity of substitution, relative price, trade shocks

This paper examines the relationship between temporary terms of trade shocks and household saving in developing countries. It is first shown that, from a theoretical standpoint, this relationship is ambiguous: priv...

The Response of the Current Account to Terms of Trade Shocks

The Response of the Current Account to Terms of Trade Shocks »

Source: The Response of the Current Account to Terms of Trade Shocks : Persistence Matters

Volume/Issue: 2003/143

Series: IMF Working Papers

Author(s): Paul Cashin , and Christopher Kent

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451856361

Keywords: terms of trade, shock persistence, terms of trade shocks, trade shocks, trade shock, current account balance, Current accounts,

Is the relationship between the current account balance and the terms of trade affected by the persistence of terms of trade shocks? In intertemporal models of the current account that incorporate a consumption-smo...

International Reserves and Self-Insurance against External Shocks

International Reserves and Self-Insurance against External Shocks »

Source: International Reserves and Self-Insurance against External Shocks

Volume/Issue: 2008/149

Series: IMF Working Papers

Author(s): Régis Barnichon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870077

Keywords: Natural Disasters, Terms of Trade Shocks, disasters, terms of trade, trade shocks, disaster,

The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published...

The Balance of Trade, the Terms of Trade, and the Real Exchange Rate

The Balance of Trade, the Terms of Trade, and the Real Exchange Rate »

Source: The Balance of Trade, the Terms of Trade, and the Real Exchange Rate : An Intertemporal Optimizing Framework

Volume/Issue: 1988/2

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1988

ISBN: 9781451930924

Keywords: terms of trade, terms of trade shocks, relative price, trade changes, real rate of interest

This paper uses an intertemporal optimizing model of a small open economy to analyze how terms of trade changes affect real exchange rates and the trade balance. We consider temporary current, anticipated future, a...

Commodity Price Cycles

Commodity Price Cycles »

Source: Commodity Price Cycles : The Perils of Mismanaging the Boom

Volume/Issue: 2011/283

Series: IMF Working Papers

Author(s): Sebastian Sosa , and Gustavo Adler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2011

ISBN: 9781463926649

Keywords: Commodity prices, terms of trade, economic policies, commodity exports, trade shocks, terms of trade shocks, Commodity Price Cycles,

Commodity-exporting countries have significantly benefited from the commodity price boom of recent years. At the current juncture, however, uncertain global economic prospects have raised questions about their vuln...

Welfare Gains of Aid Indexation in Small Open Economies

Welfare Gains of Aid Indexation in Small Open Economies »

Source: Welfare Gains of Aid Indexation in Small Open Economies

Volume/Issue: 2008/101

Series: IMF Working Papers

Author(s): Anubha Dhasmana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

ISBN: 9781451869620

Keywords: Volatility, Business Cycle, terms of trade shocks, trade shocks, tradable goods,

Foreign aid flows to poor, aid-dependent economies are highly volatile and pro-cyclical. Shortfalls in aid coincide with shortfalls in GDP and government revenues. This increases the consumption volatility in aid d...