Exchange rate changes and endogenous terms of trade effects in a small open economy

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Title Exchange rate changes and endogenous terms of trade effects in a small open economy
Author Swift, Robyn Frances
Journal Name Journal of Macroeconomics
Year Published 2004
Place of publication Netherlands
Publisher Elsevier
Abstract This paper shows that the small-country assumption of dependent-economy models is unlikely to hold for many of the cases in which this class of models is used, for example, in the analysis of a terms of trade shock in the commodity currency models. When a shock affects most or all of the small countries exporting a commodity, the combined exchange rate effects will result in endogenous terms of trade changes even for those countries too small to individually affect world markets. The paper also explores the possible implications of these secondary terms of trade changes for the dependent-economy models.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.elsevier.com/wps/find/journaldescription.cws_home/622617/description#description
Copyright Statement Copyright 2004 Elsevier : Reproduced in accordance with the copyright policy of the publisher : This journal is available online - use hypertext links.
Volume 26
Page from 737
Page to 745
ISSN 0164-0704
Date Accessioned 2005-02-09
Date Available 2007-03-18T21:41:20Z
Language en_AU
Faculty Griffith Business School
Subject International Economics and International Finance
URI http://hdl.handle.net/10072/5405
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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