Denomination composition of trade and trade balance: evidence from Turkey

References

• Backus , DK . 1993 . Interpreting comovements in the trade balance and the terms of trade . Journal of International Economics , 34 : 375 – 87 .
   Google Scholar
• Backus , DK , Kehoe , PJ and Kydland , FE . 1994 . Dynamics of the trade balance and the terms of trade: the J-curve? . American Economic Review , 84 : 84 – 103 .
   Web of Science ®Google Scholar
• Berument , H and Pasaogullari , M . 2003 . Effects of the real exchange rate on output and inflation: evidence from Turkey . Developing Economies , 41 ( 4 ) : 401 – 35 .
   Web of Science ®Google Scholar
• Cashin P McDermott CJ 1998 Terms of trade and the current account IMF Working Paper 177
   Google Scholar
• Cushman , D and Zha , T . 1997 . Modifying monetary policy in a small open economy under flexible exchange rates . Journal of Monetary Economics , 39 ( 3 ) : 433 – 48 .
   Web of Science ®Google Scholar
• Fisher , LA and Huh , H-S . 2002 . Real exchange rates, trade balances and nominal shocks: evidence for the G-7 . Journal of International Money and Finance , 21 ( 4 ) : 497 – 518 .
   Google Scholar
• Gordon , DB and Leeper , EM . 1994 . The dynamic impacts of monetary policy: an exercise in tentative identification . Journal of Political Economy , 102 : 1128 – 47 .
   Google Scholar
• Deardorff , AV and Stern , RM . 1978 . The terms of trade effect on expenditure . Journal of International Economics , 8 : 409 – 14 .
   Google Scholar
• Harberger , AC . 1950 . Currency appreciation, income and the balance of trade . Journal of Political Economy , 58 : 47 – 60 .
   Web of Science ®Google Scholar
• Kamin , SB and Rogers , JH . 2000 . Output and the real exchange rate in developing countries: an application to Mexico . Journal of Development Economics , 61 : 85 – 109 .
   Web of Science ®Google Scholar
• Kent C 1997 The response of the current account to terms of trade shocks: a panel data study Research Discussion Paper 9705
   Google Scholar
• Laursen , S and Metzler , LA . 1959 . Flexible exchange rates and the theory of employment . Review of Economics and Statistics , 32 : 281 – 99 .
   Web of Science ®Google Scholar
• Mendoza , EG . 1992 . The effects of macroeconomic shocks in a basic equilibrium framework . IMF Staff Papers , 39 ( 4 ) : 855 – 89 .
   Google Scholar
• Mendoza , EG . 1995 . The terms of trade, the real exchange rate and economic fluctuations . International Economic Review , 36 ( 1 ) : 101 – 37 .
   Web of Science ®Google Scholar
• Obstfeld , M . 1982 . Aggregate spending and the terms of trade: is there a Laursen–Metzler effect? . Quarterly Journal of Economics , 97 : 251 – 70 .
   Web of Science ®Google Scholar
• Ostry , JD and Reinhart , CM . 1992 . Private savings and terms of trade . IMF Staff Papers , 32 : 541 – 73 .
   Google Scholar
• Otto , G . 2003 . Terms of trade shocks and the balance of trade: there is a Harberger–Laursen–Meltzer effect . Journal of International Money and Finance , 22 : 155 – 84 .
   Web of Science ®Google Scholar
• Sachs , JD . 1981 . The current account and macroeconomic adjustment in the 1970s . Brookings Papers on Economic Activity , 5 ( 1 ) : 201 – 68 .
   Google Scholar
• Sims , CA . 1972 . Money, income and causality . American Economic Review , 62 : 540 – 52 .
   Web of Science ®Google Scholar
• Sims , CA . 1986 . Are forecasting models usable for policy analysis? . Quarterly Review of the Federal Reserve Bank of Minneapolis , 10 : 2 – 16 .
   Google Scholar
• Sims , CA , Stock , JH and Watson , MW . 1990 . Inference in linear time series models with some unit roots . Econometrica , 58 : 113 – 47 .
   Web of Science ®Google Scholar
• Sims , CA and Zha , T . 1998 . Error bands for impulse responses . Econometrica , 67 ( 5 ) : 1113 – 56 .
   Google Scholar
• Spatafora N 2003 How concerned should developing countries be about G-3 exchange rate volatility World Economic Outlook Chapter II 92 111
   Google Scholar
• Zha , T . 1999 . Block recursion and structural vector autoregressions . Journal of Econometrics , 90 : 291 – 316 .
   Web of Science ®Google Scholar