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Rapid Current Account Adjustments
			: Are Microstates Different?

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

DOI: http://dx.doi.org/10.5089/9781451870916.001

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...

Real Exchange Rate Targeting Under Capital Controls
			: Can Money Provide a Nominal Anchor?

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

DOI: http://dx.doi.org/10.5089/9781451961010.001

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...

Terms of Trade Shocks and the Current Account

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

DOI: http://dx.doi.org/10.5089/9781451975048.001

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...

The Balance of Trade, the Terms of Trade, and the Real Exchange Rate
			: An Intertemporal Optimizing Framework

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

DOI: http://dx.doi.org/10.5089/9781451930924.001

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
			: Persistence Matters

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

DOI: http://dx.doi.org/10.5089/9781451856361.001

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...

To Smooth or Not to Smooth-The Impact of Grants and Remittances on the Equilibrium Real Exchange Rate in Jordan

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

DOI: http://dx.doi.org/10.5089/9781451865172.001

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...

Real Exchange Rate Response to Capital Flows in Mexico
			: An Empirical Analysis

Real Exchange Rate Response to Capital Flows in Mexico : An Empirical Analysis »

Volume/Issue: 2000/108

Series: IMF Working Papers

Author(s): Marcelo Dabós , and V. Juan-Ramon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

DOI: http://dx.doi.org/10.5089/9781451853094.001

ISBN: 9781451853094

Keywords: Export real exchange rate, capital inflow, terms of trade, productivity, equilibrium-correction model, real exchange rate, capital inflows, exchange rate, real exchange

This study shows that in Mexico there is a long-run relationship between the real exchange rate and capital inflows, the external terms of trade, and productivity in the manufacturing sector. A once-and-for-all uni...

Migration in LDCs: Risk, Remittances, and the Family

Migration in LDCs: Risk, Remittances, and the Family »

Source: Finance & Development, December 1991

Volume/Issue: 28/4

Series: Finance & Development

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1991

ISBN: 9781451951790

Keywords: structural adjustment, terms of trade, structural adjustment facility, adjustment programs, enhanced structural adjustment facility

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly...

A Quantitative Examination of Current Account Dynamics in Equilibrium Models of Barter Economies

A Quantitative Examination of Current Account Dynamics in Equilibrium Models of Barter Economies »

Source: A Quantitative Examination of Current Account Dynamics in Equilibrium Models of Barter Economies

Volume/Issue: 1992/14

Series: IMF Working Papers

Author(s): Enrique Mendoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1992

ISBN: 9781451924121

Keywords: terms of trade, correlation, elasticity of substitution, standard deviation, import prices

This paper provides a numerical analysis of an intertemporal equilibrium model of a small open, barter economy that is subject to random shocks affecting endowments, the terms of trade, and the real interest rate....

Rapid Current Account Adjustments

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...