. The framework of the analysis is a small open economy with abating exchange rate and endogenous terms if trade, in which … current-account surplus. The terms of trade between foreign and domestic finished goods always improve in the long run …

the transmission of terms of trade shocks. Evidence on the relationship between real exchange rate volatility and terms of … trade volatility from the late nineteenth and early twentieth century exposes a dramatic change. The classical gold standard …Did adoption of the gold standard exacerbate or diminish macroeconomic volatility? Supporters thought so, critics …

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 …

20% in the U.S. the dollar appreciates strongly, by almost the size of the tax adjustment, U.S. exports and imports … only a weak appreciation of the dollar, a small decline in imports and exports, but has a large negative effect on output …. Lastly, border taxes increase government revenues in periods of trade deficit, however, given the net foreign asset position …

for) the terms of trade differs across countries: while both relative prices depreciate in Italy and the UK (smaller and … however inconclusive for Germany. These findings question a common view in the literature, that a country's terms of trade … growth in the US tradable sector does not necessarily improve the US trade deficit, nor deteriorate the US terms of trade, at …

In this paper we investigate the relation between tariff changes, terms of trade changes and the equilibrium real … wisdom that establishes that a tariff hike will always result in a real appreciation, while a terms of trade worsening will …