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The Harberger-Laursen-Metzler Effect: Evidence from Pakistan
Idrees, Tayyaba; Tufail, Saira - In: Lahore Journal of Economics 17 (2012) 2, pp. 87-110
According to the Harberger-Laursen-Metzler (HLM) effect, an exogenous temporary increase in the terms of trade leads to an improvement in the current account balance. This paper uses a recursive vector autoregression to investigate empirically the existence of the HLM effect in Pakistan, using a...
Persistent link: https://www.econbiz.de/10010905739
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Growth prospects and the trade balance in advanced economies
Belke, Ansgar; Elstner, Steffen; Rujin, Svetlana - 2020 - This version: February 7, 2020
recommendations to reduce the trade imbalances through productivity-enhancing reforms in advanced economies are likely to yield only …
Persistent link: https://www.econbiz.de/10012160788
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Growth prospects and the trade balance in advanced economies
Belke, Ansgar; Elstner, Steffen; Rujin, Svetlana - 2019
recommendations to reduce the trade imbalances through productivity-enhancing reforms in advanced economies are likely to yield only …
Persistent link: https://www.econbiz.de/10012134287
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The Terms of Trade, Productivity Growth and the Current Account
Iscan, Talan - 2001
-192) to an economy with traded and nontraded goods, and it analyzes the impact of country-specific and global productivity … investment to country-specific traded productivity growth. Second, global traded productivity and country-specific nontraded … productivity growth have no effect on the current account, but they have a significant impact on investment. Third, the global …
Persistent link: https://www.econbiz.de/10014140761
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Current Account, Productivity and Terms of Trade Shocks in Norway
Sobrino, Cesar R. - 2016
living. The increase comes from a permanent rise in productivity following an efficient reallocation of resources in a …
Persistent link: https://www.econbiz.de/10013006651
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Terms of Trade Shocks and the Current Account
Cashin, Paul Anthony - 2006
This paper examines the relationship between terms of trade shocks, private saving, and the current account position. The relationship between these variables is theoretically ambiguous: an adverse transitory terms of trade shock can either induce a deterioration or an improvement in the current...
Persistent link: https://www.econbiz.de/10012781565
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Terms of Trade and Current Account Fluctuations : The Harberger-Laursen-Metzler Effect Revisited
Bouakez, Hafedh; Kano, Takashi - 2008
This paper investigates whether extending the intertemporal model of the current account to allow for variations in the terms of trade improves its ability to fit the data. It derives a testable present-value representation of the current account that encompasses the Harberger-Laursen-Metzler...
Persistent link: https://www.econbiz.de/10014217343
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Another View of the J-Curve
Cardi, Olivier - 2009
Most of empirical studies find evidence of the J-Curve, but recent results cast doubt over its standard explanation. By addressing the countercyclicality of the current account and its dynamic link with the terms of trade, this paper revisits the J-Curve phenomenon using a two-good dynamic...
Persistent link: https://www.econbiz.de/10014209896
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International risk-sharing and the transmission of productivity shocks
Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - 2004
the international transmission of productivity improvements generate the observed degree of risk-sharing: one associated …
Persistent link: https://www.econbiz.de/10009636531
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International Risk-Sharing and the Transmission of Productivity Shocks
Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - 2021
international transmission of productivity improvements generate the observed degree of risk-sharing: one associated with a …
Persistent link: https://www.econbiz.de/10013319477