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Four Decades of Terms-of-Trade Booms

Four Decades of Terms-of-Trade Booms »

Source: Four Decades of Terms-of-Trade Booms : Saving-Investment Patterns and a New Metric of Income Windfall

Volume/Issue: 2013/103

Series: IMF Working Papers

Author(s): Gustavo Adler , and Nicolas Magud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2013

ISBN: 9781484356241

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...