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The dollar and the U.S. terms of trade

Author

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  • Koch, Paul D.
  • Rosensweig, Jeffrey A.

Abstract

This paper conducts specification tests to explore the dynamic relationship between the dollar and the U.S. terms of trade (TOT), as well as its components, U.S. import and export prices. Here import prices are found to respond to the dollar's value, but only after a substantial lag. Export prices display a somewhat weaker response that appears to partially offset the dollar's effect on import prices, muting its effect on the terms of trade. The result is a weak response in the terms of trade that mimics lags found in the dollar's pass-through into import prices.

Suggested Citation

  • Koch, Paul D. & Rosensweig, Jeffrey A., 1992. "The dollar and the U.S. terms of trade," Journal of Macroeconomics, Elsevier, vol. 14(3), pages 467-486.
    • Handle: RePEc:eee:jmacro:v:14:y:1992:i:3:p:467-486
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    Cited by:

    1. Helena Marques & Sushanta Mallick, 2004. "Sectoral Exchange Rate Pass-through: A Tale of Two Policy Regimes in India," Discussion Paper Series 2004_12, Department of Economics, Loughborough University, revised Mar 2004.
    2. Sushanta Mallick & Helena Marques, 2008. "Passthrough of Exchange Rate and Tariffs into Import Prices of India: Currency Depreciation versus Import Liberalization," Review of International Economics, Wiley Blackwell, vol. 16(4), pages 765-782, September.
    3. Ibrahim Cutcu & Mehmet Vahit Eren, 2017. "Analysis of Exchange Rate-Foreign Trade Relationship with Asymmetric Causality Tests: Sample of Gaziantep," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(10), pages 157-171, October.

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