to have dealt with the volatility better. Why? This paper explores Australian terms of trade volatility since 1901. It …Even though Australia has experienced frequent and large commodity export price shocks like the Third World, it seems …

policy and terms-of-trade fluctuations using a sample of 74 countries, both developed and developing. It finds evidence that … booms in the terms of trade do not necessarily lead to larger government surpluses in developing countries, particularly in …

price volatility or specialization dominates terms of trade and thus aggregate volatility in poor countries is thus …Poor countries are more volatile than rich countries, and we know this volatility impedes their growth. We also know … that commodity price volatility is a key source of those shocks. This paper explores commodity and manufactures price over …

This paper investigates the sources of terms of trade volatility, specifically addressing the relative importance of … goods-price effects vs. country-price effects. For fuel exporters, most of the terms of trade variation stems from goods … terms of trade variation that appears to be about equally due to goods-price effects and country-price effects …

The national terms of trade, defined as the ratio of an export price index to an import price index has been … extensively studied empirically. In this paper we construct an alternative measure, which we call the consumption terms of trade … variation of the terms of trade of 38 countries. Using a novel variance decomposition method, we find that the bulk of terms of …

-reducing terms of trade volatility was the other. Between 1820 and 1870, terms of trade volatility was much greater in the poor … from 1870-2000, we know that terms of trade volatility lowers long run growth in the poor periphery, and that the negative … impact is big. Given that terms of trade volatility in the poor periphery was even bigger during the century before 1870, it …

This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange …

the transmission of terms of trade shocks. Evidence on the relationship between real exchange rate volatility and terms of … trade volatility from the late nineteenth and early twentieth century exposes a dramatic change. The classical gold standard …Did adoption of the gold standard exacerbate or diminish macroeconomic volatility? Supporters thought so, critics …