Serven, Luis.

Terms-of-trade shocks and optimal investment: another look at the Lausen-Metzer effect. - Washington : World Bank, 1995.

Policy Research Working Paper 1424.

This paper reexamines the consequences of permanent and transitory changes in the terms of trade in a rational-expectations model of a small open economy.


Terms of Trade.
Goods -- Trade.--Goods -- Trade.