TY  - JOUR
AU  - Baxter,Marianne
AU  - Kouparitsas,Michael A.
TI  - What Causes Fluctuations in the Terms of Trade?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 7462
PY  - 2000
Y2  - January 2000
UR  - http://www.nber.org/papers/w7462
L1  - http://www.nber.org/papers/w7462.pdf
N1  - Author contact info:
Marianne Baxter
Department of Economics
Boston University
270 Bay State Road
Boston, MA  02215
Tel: 617/353-2417
Fax: 617/353-4449
E-Mail: mbaxter@bu.edu
AB  - This paper investigates the sources of terms of trade volatility, specifically addressing the relative importance of goods-price effects vs. country-price effects.  For fuel exporters, most of the terms of trade variation stems from goods-price effects, as one would have expected, a priori.  For commodity exporters, there is great dispersion in the importance of goods price effects vs. country price effects, and no overall generalization is possible.  Exporters of manufactured goods face terms of trade variation that appears to be about equally due to goods-price effects and country-price effects.
ER  -