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Impact of Terms-of-Trade on Slovakia, the Czech Republic, and Croatia in the Short Run

Journal of Contemporary Issues in Economics and Business

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Title Impact of Terms-of-Trade on Slovakia, the Czech Republic, and Croatia in the Short Run
 
Creator Szomolányi, Karol; Department of Operations Research and Econometrics, University of
Economics Bratislava
Lukáčik, Martin; Department of Operations Research and Econometrics, University of
Economics Bratislava
Lukáčiková, Adriana; Department of Operations Research and Econometrics, University of
Economics Bratislava
 
Subject —
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Description The terms-of-trade shocks are not main source of business cycles in three postcommunistcountries (i.e., Slovakia, the Czech Republic, and Croatia). The zeroor negative reactions of the trade balance in terms-of-trade positive shocks inthe countries exhibit the Obstfeld-Svensson-Razin effect, according to whichthe Harberger-Laursen-Metzler positive effect on terms-of-trade indicates thatthe smaller the trade balance, the more persistent the terms-of-trade shock is.The conclusions come from the structural vector autoregressive analysis of thecyclical components of terms-of-trade, trade balance, output, consumption, andinvestment in three post-communist countries.
 
Publisher Faculty of Economics and Business
 
Contributor —
 
Date 2017-03-15
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://ng-epf.si/index.php/ngoe/article/view/132
 
Source Naše gospodarstvo/Our economy; Vol 63, No 1 (2017); 3-13
2385-8052
0547-3101
 
Language eng
 
Relation http://ng-epf.si/index.php/ngoe/article/view/132/121
 
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