The welfare impact of terms of trade changes (English)

This paper analyzes the relationship between changes in the terms of trade and other exogenous shocks and national welfare. The latter is a wealth concept while the former is usually measured as a flow. We show that consideration of the flow measures alone is not sufficient to evaluate the impact on welfare; it neglects optimal investment adjustment and the endogenous terms of trade changes associated with adjustment. We indicate that some types of...

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Author

Kharas, Homi Hisan Shishido;
Document Date
1985/06/30
Document Type
Departmental Working Paper
Report Number
CPD8528
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2017/10/31
Disclosure Status
Disclosed
Doc Name
The welfare impact of terms of trade changes
Keywords
national income

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Citation

Kharas, Homi Hisan Shishido.

The welfare impact of terms of trade changes (English). Country Policy Department discussion paper|no. CPD 8528 Washington, DC: World Bank. http://documents.worldbank.org/curated/en/531371492001006562

The welfare impact of terms of trade changes (English)

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