Abstract
Bruno analyzes short-run and long-run allocational effects of temporary and permanent increases in the prices of imported raw materials, a decrease in the world rate of interest, and several other kinds of disturbances. More precisely, the effects on production and consumption of traded and nontraded final goods, investment and the trade balance are considered.
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Reference
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Razin, A.: Capital movements, intersectoral resource shifts, and the trade balance. Seminar Paper No. 159, Institute for International Economic Studies, University of Stockholm, 1980.
Sachs, J.: The current account and macro-economic adjustment in the 1970’s. Brookings Papers on Economics Activity 1, 201–268, 1981 a.
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Svensson, L. E. O. & Razin, A.: The terms of trade, spending and the current account: The Harberger-Laursen-Metzler effect. Seminar Paper No. 170, Institute for International Economic Studies, University of Stockholm, 1981 and forthcoming in Journal of Political Economy.
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© 1983 The Scandinavian Journal of Economics
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Svensson, L.E.O. (1983). Comment on M. Bruno, “Adjustment and Structural Change under Supply Shocks”. In: Calmfors, L. (eds) Long-Run Effects of Short-Run Stabilization Policy. Scandinavian Journal of Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06349-9_7
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DOI: https://doi.org/10.1007/978-1-349-06349-9_7
Publisher Name: Palgrave Macmillan, London
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