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Rapid Current Account Adjustments »
Source: Rapid Current Account Adjustments : Are Microstates Different?
Volume/Issue: 2008/233
Series: IMF Working Papers
Author(s): Patrick Imam
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2008
ISBN: 9781451870916
Keywords: Terms of trade shocks, microstates, terms of trade, trade shocks, terms of trade shock, trade shock,
We describe unique aspects of microstates-they are less diversified, suffer from lumpiness of investment, they are geographically at the periphery and prone to natural disasters, and have less access to capital mar...
The Balance of Trade, the Terms of Trade, and the Real Exchange Rate »
Source: The Balance of Trade, the Terms of Trade, and the Real Exchange Rate : An Intertemporal Optimizing Framework
Volume/Issue: 1988/2
Series: IMF Working Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 1988
ISBN: 9781451930924
Keywords: terms of trade, terms of trade shocks, relative price, trade changes, real rate of interest
This paper uses an intertemporal optimizing model of a small open economy to analyze how terms of trade changes affect real exchange rates and the trade balance. We consider temporary current, anticipated future, a...
The Response of the Current Account to Terms of Trade Shocks »
Source: The Response of the Current Account to Terms of Trade Shocks : Persistence Matters
Volume/Issue: 2003/143
Series: IMF Working Papers
Author(s): Paul Cashin , and Christopher Kent
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 July 2003
ISBN: 9781451856361
Keywords: terms of trade, shock persistence, terms of trade shocks, trade shocks, trade shock, current account balance, Current accounts,
Is the relationship between the current account balance and the terms of trade affected by the persistence of terms of trade shocks? In intertemporal models of the current account that incorporate a consumption-smo...
Terms of Trade Shocks and the Current Account »
Source: Terms of Trade Shocks and the Current Account
Volume/Issue: 1998/177
Series: IMF Working Papers
Author(s): Paul Cashin , and C. McDermott
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 1998
ISBN: 9781451975048
Keywords: Terms of trade, intertemporal elasticity of substitution, intratemporal elasticity of substitution, terms of trade shocks, trade shocks, relative price, elasticity of substitution
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...
Real Exchange Rate Targeting Under Capital Controls »
Source: Real Exchange Rate Targeting Under Capital Controls : Can Money Provide a Nominal Anchor?
Volume/Issue: 1991/68
Series: IMF Working Papers
Author(s): Peter Montiel , and Jonathan Ostry
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 July 1991
ISBN: 9781451961010
Keywords: inflation, terms of trade, price level, inflation rate
This paper examines the issue of whether the money supply can serve as a nominal anchor for the domestic price level under real exchange rate targeting. When capital controls are perfect so that there is complete s...
Why Does the Current Account Matter? »
Source: IMF Staff papers : Volume 27 No. 1
Volume: 27
Series: IMF Staff Papers
Author(s): International Monetary Fund. Research Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 1980
ISBN: 9781451956566
Keywords: inflation, terms of trade, balance of payments, foreign exchange, aggregate demand
This paper reports the results of some preliminary research into the repercussions, for income distribution, of stabilization programs associated with the use of IMF resources in the upper credit tranches. In the f...
Financial Reform and Capital Flows in a Developing Economy »
Source: IMF Staff papers : Volume 26 No. 3
Volume: 26
Series: IMF Staff Papers
Author(s): International Monetary Fund. Research Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 1979
ISBN: 9781451972597
Keywords: exchange rate, real exchange rate, terms of trade, effective exchange rate, exchange rate policy
This paper examines two questions: What basket of currencies should a small developing country use as the exchange rate standard for its currency? When are discretionary changes of the value of its currency against...
Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia1 »
Source: Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia
Volume/Issue: 2011/46
Series: IMF Working Papers
Author(s): Damiano Sandri , Pau Rabanal , and Isabelle Mejean
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2011
ISBN: 9781455218967
Keywords: Rebalancing, Intermediate Inputs, terms of trade, tradable goods, exchange rate, export prices, Open Economy Macroeconomics, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,
A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to emerging Asia tradable goods and a change in international relative prices. This paper quantifies the...
To Smooth or Not to Smooth-The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan »
Source: To Smooth or Not to Smooth-The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan
Volume/Issue: 2006/257
Series: IMF Working Papers
Author(s): Martin Petri , and Tahsin Saadi-Sedik
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 November 2006
ISBN: 9781451865172
Keywords: Equilibrium Real Exchange Rate, Smoothing Techniques, exchange rate, real exchange rate, trade openness, terms of trade, equilibrium exchange rate, Open Economy Macroeconomics,
This paper estimates the effect of grants and workers' remittances on Jordan's long-term equilibrium real exchange rate. We estimate an equilibrium path for the Jordanian real exchange rate using the Johansen coint...
Strengthening the Fund's Ability to Assist Low-Income Countries Meet Balance of Payments Needs Arising from Sudden and Exogenous Shocks »
Source: Strengthening the Fund's Ability to Assist Low-Income Countries Meet Balance of Payments Needs Arising from Sudden and Exogenous Shocks
Volume/Issue: 2005/079
Series: Policy Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 06 October 2005
ISBN: 9781498331494
Keywords: Balance of payments assistance, Poverty Reduction and Growth Facility, Poverty Reduction and Growth Facility Trust, Balance of payments need, Adjustment process, Balance of payments, Terms of trade, Low income developing countries, PP, PRGF
At the Executive Board discussion on the role of the Fund in low-income countries, Directors requested proposals to address the absence of concessional instruments other than the PRGF in the Fund's financial assist...