Is Harberger-Laursen-Metzler Hypothesis valid in Turkey
نویسندگان
چکیده
منابع مشابه
Terms of trade shocks and the balance of trade: there is a Harberger-Laursen-Metzler effect
According to the Harberger-Laursen-Metzler (HLM) effect an exogenous increase in the terms of trade faced by a small open economy leads to an improvement in that country’s trade balance. In this paper structural vector autoregression techniques are used to investigate whether there is any systematic pattern in the responses of the trade balance to terms of trade shocks for a large number of sma...
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Using a two-good, two-country model, we examine macroeconomic adjustment by allowing for decreasing and increasing marginal impatience (DMI and IMI). In the reference case where both countries have IMI, a negative output shock in one country lowers the interest rate and both countries’ welfare levels in steady state, whereas, when either one country has DMI, the negative income shock raises the...
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In economic literature especially in international economic literature, the Harberger, Laursen and Metzler (HLM) effect is an important issue. According to HLM effect, deterioration in the terms of trade decreases GNP and then causes deterioration in the current account. The main idea of this study is the examination of HLM effect in Economy of Iran. We use annual data of current account, term...
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ژورنال
عنوان ژورنال: Pressacademia
سال: 2018
ISSN: 2146-7943
DOI: 10.17261/pressacademia.2018.821