Deterioration of the Terms of Trade and Capital Accumulation: A Reexamination of the Laursen-Metzler Effect
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This paper analyzes the effects of both a permanent and a temporary deterioration In the terms of trade on a small open economy. The model, based on intertemporal optimization, emphasizes the labor-leisure choice and the role of capital accumulation There are two main conclusions to be drawn from
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美国国家经济研究局创建时间：
1988-06-01
