Do asymmetric terms of trade shocks affect private savings in a transition economy?
نویسنده
چکیده
..............................................................................................................................5 Tiivistelmä...........................................................................................................................6
منابع مشابه
Private Savings in Transition Economies: Are There Terms of Trade Shocks?
Economic agents in the transition economies are subject to tight credit constraints, which are more pronounced during bad state of nature. Thus, adverse shocks to commodity prices in the world market can force them to reduce savings by a larger amount than they would otherwise have. Empirical analysis using a dynamic panel model and data from 21 transition economies confirm that most of the det...
متن کاملAsymmetric Effect of Oil Price on the Terms of Trade: Evidence from Oil Exporting and Importing Countries
The oil price shocks are an important source that affect on TOT in both oil exporting and importing countries. Hence, this paper compares the effects of real oil price shock on TOT in both oil importing and exporting countries, using Panel Data technique and during 1980-2010. To the best of our knowledge, we applied the nonlinear approach in order to assess the asymmetric impact of the oil pri...
متن کاملMacroeconomic Effects of the Terms of Trade Shocks: Evidence from OPEC
This paper evaluates the impact of the positive terms of trade (TOT) Shock on macroeconomic variables, using panel data for the six OPEC major oil exporting countries during 1989-2005. The findings indicate that the positive TOT shocks have the small and negative impact on savings and on the trade balance. Nevertheless, it has a positive impact on investment (specifically private investment) an...
متن کاملInvestigating the Effect of Trade Shocks on employment in tradable and non-tradable sectors in Iran: A Dynamic Stochastic General Equilibrium Model (DSGE)
The aim of this paper is the analysis of trade shocks on tradable and non-tradable employment. To do so, a dynamic stochastic general equilibrium model is designed for Iran economy and the sectors of model are tradable, non-tradable and import. The variables related to foreign trade sector are nominal and real exchange rate, the law of one price gap and terms of trade. The structural parameters...
متن کاملAnalysis of the Effect of Market Shocks and Economic Sanctions on the Value Added of Industry
This study seeks to examine the impact of market shocks and economic sanctions on production and value added in the industrial sector, one of the most important sectors of the economy, during period of recession and boom. For this purpose, we examine the effect of oil shocks, currency fluctuations and economic sanctions on the added value of the industrial sector during the recession and boom p...
متن کامل