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Impact of terms-of-trade on Slovakia, the Czech Republic, and Croatia in the short run
Karol Szomolányi, Martin Lukáčik, Adriana Lukáčiková, 2017, izvirni znanstveni članek

Opis: The terms-of-trade shocks are not main source of business cycles in three post-communist countries (i.e., Slovakia, the Czech Republic, and Croatia). The zero or negative reactions of the trade balance in terms-of-trade positive shocks in the countries exhibit the Obstfeld-Svensson-Razin effect, according to which the Harberger-Laursen-Metzler positive effect on terms-of-trade indicates that the smaller the trade balance, the more persistent the terms-of-trade shock is. The conclusions come from the structural vector autoregressive analysis of the cyclical components of terms-of-trade, trade balance, output, consumption, and investment in three post-communist countries.
Ključne besede: innovation, terms-of-trade, business cycle, Slovak economy, Czech economy, Croatian economy, trade balance
Objavljeno v DKUM: 13.11.2017; Ogledov: 1693; Prenosov: 401
.pdf Celotno besedilo (492,14 KB)
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