Dynamic Response To Foreign Transfers And Terms Of Trade Shocks In Open Economies
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Dynamic Response to Foreign Transfers and Terms-of-trade Shocks in Open Economies
| Author | : Klaus Schmidt-Hebbel |
| Publisher | : World Bank Publications |
| Total Pages | : 52 |
| Release | : 1992 |
| Genre | : Comercio internacional |
| ISBN | : |
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Both permanent and transitory disturbances can change long- run capacity and output -- although they may have opposite effects on the current account. Liquidity constraints and wage rigidities tend to amplify the cyclical adjustment to external shocks.
