Four Decades of Terms-of-Trade Booms : Saving-Investment Patterns and a New Metric of Income Windfall »
Series: IMF Working Papers
Author(s): Gustavo Adler , and Nicolas Magud
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 09 May 2013
Keywords: windfall, real income, aggregate saving, saving rate, trade shocks, trade shock, terms-of-trade shocks, domestic investment, Other, Open Economy Macroeconomics,
We study the history of terms-of-trade booms (during 1970–2012), with a focus on Latin America, through the prisms of a simple metric that quantifies the associated income windfall. We also document saving p...