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Current Account, Capital Formation and Terms of Trade Shocks: a Revisit of the Harberger-Laursen-Metzler Effect

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  • Hung-Ju Chen
  • Chen-Min Hsu

Abstract

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Suggested Citation

  • Hung-Ju Chen & Chen-Min Hsu, 2006. "Current Account, Capital Formation and Terms of Trade Shocks: a Revisit of the Harberger-Laursen-Metzler Effect," Journal of Economics, Springer, vol. 88(2), pages 179-201, August.
    • Handle: RePEc:kap:jeczfn:v:88:y:2006:i:2:p:179-201
    DOI: 10.1007/s00712-006-0179-5
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    References listed on IDEAS

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    1. Maurice Obstfeld, 1981. "Transitory terms-of-trade shocks and the current account: the case of constant time preference," International Finance Discussion Papers 194, Board of Governors of the Federal Reserve System (U.S.).
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    Citations

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    Cited by:

    1. Hung‐Ju Chen & Chen‐Min Hsu, 2009. "Demand Changes and Real Exchange Rate Dynamics in a Finite‐Horizon Model with Sectoral Adjustment Costs," Southern Economic Journal, John Wiley & Sons, vol. 75(4), pages 1191-1211, April.
    2. Talat Afza & Khalid Ahmed & Muhammad Shahbaz, 2016. "Does Harberger–Laursen–Metzler (HLM) Exist in Pakistan? Cointegration, Causality and Forecast Error Variance Decomposition Tests," Global Business Review, International Management Institute, vol. 17(4), pages 759-778, August.
    3. Chen Fang & Po-Sheng Lin, 2013. "Traded Bond Denominations, Shock Persistence and Current Account Dynamics: Another Look at the Harberger–Laursen–Metzler Effect," Pacific Economic Review, Wiley Blackwell, vol. 18(4), pages 502-529, October.

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    More about this item

    Keywords

    terms of trade; current account; Harberger-Laursen-Metzler effect; F11; F32; F47;
    All these keywords.

    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

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