This paper uses three models of a small open economy to analyze the effects of terms of trade and exchange rate changes … factors model is developed and used to investigate how an exogenous worsening of the intern.ationa1 terms of trade affect …

contemplated a trade liberalization process that would create a low and uniform tariff structure. In this paper I review the …

that for most nations the adjustment has been highly recessive. Next, the potential role of trade reforms in securing the …

how the temporary term's of trade disturbances affect the path of real exchange rates and the current account. Changes in … the internal terms of trade (due to tariff changes) and to the external terms of trade are considered. The model is … current account in period 1 are derived. The way in which temporary and permanent external terms of trade shocks will affect …

This paper analyzes the relationship between trade policy and economic performance. The paper is divided in two … fundamental parts. The first one uses a cross country data set to investigate the relationship between trade policy and … factor productivity than countries with high trade barriers. In the second part the recent Latin American experiences with …

controls. And (c), we find that a tightening of capital controls increases the unconditional volatility of the exchange rate …, but makes this volatility less sensitive to external shocks …

Current debates on globalization have tended to focus on financial market volatility and contagion. In fact, many … whether there has been volatility contagion from Mexico to the two South American nations. The results obtained from the … estimation of augmented GARCH equations indicate, quite strongly, that while there has been volatility contagion from Mexico to …

misalignment and overvaluation. The effects of terms of trade shocks on the equilibrium real exchange rate are also investigated …

-term real exchange rate variability; and more unstable external terms of trade also affected positively the degree of real …