Commodity currencies and the real exchange rate
This paper shows that a change in the terms of trade of a commodity-exporting country could cause the relative price of nontraded goods to rise or fall, depending on the strength of income and substitution effects.
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References listed on IDEAS
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- J. Peter Neary, 1987.
"Determinants of the equilibrium real exchange rate,"
198748, School of Economics, University College Dublin.
- Neary, Peter, 1988. "Determinants of the Equilibrium Real Exchange Rate," American Economic Review, American Economic Association, vol. 78(1), pages 210-215, March.
- Neary, J Peter, 1987. "Determinants of the Equilibrium Real Exchange Rate," CEPR Discussion Papers 209, C.E.P.R. Discussion Papers.
- Sebastian Edwards & Sweder van Wijnbergen, 1987.
"Tariffs, the Real Exchange Rate and the Terms of Trade: On Two Popular Propositions in International Economics,"
NBER Working Papers
2365, National Bureau of Economic Research, Inc.
- Edwards, Sebastian & van Wijnbergen, Sweder, 1987. "Tariffs, The Real Exchange Rate and the Terms of Trade: On Two Popular Propositions in International Economics," Oxford Economic Papers, Oxford University Press, vol. 39(3), pages 458-464, September.
- Cashin, Paul & Cespedes, Luis F. & Sahay, Ratna, 2004.
"Commodity currencies and the real exchange rate,"
Journal of Development Economics,
Elsevier, vol. 75(1), pages 239-268, October.
- Chen, Yu-chin & Rogoff, Kenneth, 2003. "Commodity currencies," Journal of International Economics, Elsevier, vol. 60(1), pages 133-160, May.
- Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-848, December.
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