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Browsing by Subject "Terms of trade"
Now showing items 1-3 of 3
Title:Was Industrialization An Escape From the Commodity Lottery? Evidence From Italy, 1861-1939
Author(s):FEDERICO, Giovanni; VASTA, MichelangeloDate:2010Type of Publication:ArticleAbstract:The specialization in exporting primary products is frequently deemed harmful for long-run development, because it increases volatility of terms of trade and thus the number and frequency of macroeconomic shocks. One would ...
Title:S-Curve Redux: On the International Transmission of Technology Shocks
Author(s):ENDERS, Zeno; MÜLLER, Gernot J.Date:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Using vector autoregressions on U.S. time series, we find that technology shocks induce an ‘S’-
shaped cross-correlation function for the trade balance and the terms of trade (S-curve). In calibrating
a prototypical ...