NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Terms of Trade Shocks and Fiscal Cycles

Graciela L. Kaminsky

NBER Working Paper No. 15780
Issued in February 2010

---- Acknowledgements -----

This paper was written for the Conference on Inflation in an Era of Relative Price Shocks, (Sydney, Australia), August 17-18, 2009 jointly hosted by the Reserve Bank of Australia and the Centre for Applied Macroeconomic Analysis (CAMA) (Australian National University, Canberra, Australia). I thank Renée Fry, Christopher Kent, Larry Schembri, and participants at the Conference in Sydney for helpful comments The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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