Intertemporal Substitution and Terms-of-Trade Shocks

The paper examines the relationship between transitory terms‐of‐trade shocks and private saving. Using a model allowing for nonseparability between the consumption of tradables and nontradables, the paper estimates the intertemporal elasticity of substitution while accounting for the intratemporal e...

Full description

Saved in:
Bibliographic Details
Published in:Review of international economics 2003-09, Vol.11 (4), p.604-618
Main Authors: Cashin, Paul, McDermott, C. John
Format: Article
Language:English
Subjects:
Consumption
Data analysis
Economic models
Economic shock
Economic theory
Economics
Industry
Manycountries
Savings
Statistical analysis
Studies
Terms of trade
Trade
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
cited_by cdi_FETCH-LOGICAL-c3936-1a9888c0d1517d4d57f3f2d3b515ba86e1009c962e6fe261c28881313fe8989c3
cites cdi_FETCH-LOGICAL-c3936-1a9888c0d1517d4d57f3f2d3b515ba86e1009c962e6fe261c28881313fe8989c3
container_end_page 618
container_issue 4
container_start_page 604
container_title Review of international economics
container_volume 11
creator Cashin, Paul
McDermott, C. John
description The paper examines the relationship between transitory terms‐of‐trade shocks and private saving. Using a model allowing for nonseparability between the consumption of tradables and nontradables, the paper estimates the intertemporal elasticity of substitution while accounting for the intratemporal elasticity of substitution between the consumption of tradables and nontradables. Empirical analysis of data for five industrial countries indicates that in response to transitory terms‐of‐trade shocks, intertemporal substitution of consumption and intratemporal substitution of consumption between tradables and nontradables both have large effects on private saving.
doi_str_mv 10.1111/1467-9396.00406
format article
fullrecord <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_miscellaneous_38546257</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>420731051</sourcerecordid><originalsourceid>FETCH-LOGICAL-c3936-1a9888c0d1517d4d57f3f2d3b515ba86e1009c962e6fe261c28881313fe8989c3</originalsourceid><addsrcrecordid>eNqFUE1PGzEUtKoikVLOXKMeeluw1x9rH9sohZSoERDE8cnxvhVL9qv2Lm3-PQ6LcuDCk0ZPepqZNxpCzhg9Z3EumFBZYrhR55QKqj6RyeHymUyoUTLJZKaOyZcQnihlUhs6IWLR9Oh7rLvW22p6N2xCX_ZDX7bN1Db5dI2-DklbJGtvc5zePbZuG76So8JWAU_f9gm5_zVfz66S5epyMfuxTBw3XCXMGq21ozmTLMtFLrOCF2nON5LJjdUKGaXGGZWiKjBVzKWRzjjjBWqjjeMn5Pvo2_n274Chh7oMDqvKNtgOAbiWQqUyi8Rv74hP7eCbmA3SODGGkpF0MZKcb0PwWEDny9r6HTAK-wphXxjsC4PXCqPi96jw2KE70DeV9fhcxsszcBt13O4iUkp5XGWEiOgiFBWgmIbHvo5mYjT7V1a4--g33K4W8zFDMsrK0OP_g8z6LaiMZxIe_lyCET-vrvnNEpb8BcBEmL8</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>222298865</pqid></control><display><type>article</type><title>Intertemporal Substitution and Terms-of-Trade Shocks</title><source>EconLit s plnými texty</source><source>International Bibliography of the Social Sciences (IBSS)</source><source>Wiley</source><source>BSC - Ebsco (Business Source Ultimate)</source><creator>Cashin, Paul ; McDermott, C. John</creator><creatorcontrib>Cashin, Paul ; McDermott, C. John</creatorcontrib><description>The paper examines the relationship between transitory terms‐of‐trade shocks and private saving. Using a model allowing for nonseparability between the consumption of tradables and nontradables, the paper estimates the intertemporal elasticity of substitution while accounting for the intratemporal elasticity of substitution between the consumption of tradables and nontradables. Empirical analysis of data for five industrial countries indicates that in response to transitory terms‐of‐trade shocks, intertemporal substitution of consumption and intratemporal substitution of consumption between tradables and nontradables both have large effects on private saving.</description><identifier>ISSN: 0965-7576</identifier><identifier>EISSN: 1467-9396</identifier><identifier>DOI: 10.1111/1467-9396.00406</identifier><language>eng</language><publisher>Oxford, UK: Blackwell Publishing Ltd</publisher><subject>Consumption ; Data analysis ; Economic models ; Economic shock ; Economic theory ; Economics ; Industry ; Manycountries ; Savings ; Statistical analysis ; Studies ; Terms of trade ; Trade</subject><ispartof>Review of international economics, 2003-09, Vol.11 (4), p.604-618</ispartof><rights>Copyright Blackwell Publishers Sep 2003</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c3936-1a9888c0d1517d4d57f3f2d3b515ba86e1009c962e6fe261c28881313fe8989c3</citedby><cites>FETCH-LOGICAL-c3936-1a9888c0d1517d4d57f3f2d3b515ba86e1009c962e6fe261c28881313fe8989c3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,780,784,27915,27916,33214,33215</link.rule.ids><backlink>$$Uhttp://econpapers.repec.org/article/blareviec/v_3a11_3ay_3a2003_3ai_3a4_3ap_3a604-618.htm$$DView record in RePEc$$Hfree_for_read</backlink></links><search><creatorcontrib>Cashin, Paul</creatorcontrib><creatorcontrib>McDermott, C. John</creatorcontrib><title>Intertemporal Substitution and Terms-of-Trade Shocks</title><title>Review of international economics</title><description>The paper examines the relationship between transitory terms‐of‐trade shocks and private saving. Using a model allowing for nonseparability between the consumption of tradables and nontradables, the paper estimates the intertemporal elasticity of substitution while accounting for the intratemporal elasticity of substitution between the consumption of tradables and nontradables. Empirical analysis of data for five industrial countries indicates that in response to transitory terms‐of‐trade shocks, intertemporal substitution of consumption and intratemporal substitution of consumption between tradables and nontradables both have large effects on private saving.</description><subject>Consumption</subject><subject>Data analysis</subject><subject>Economic models</subject><subject>Economic shock</subject><subject>Economic theory</subject><subject>Economics</subject><subject>Industry</subject><subject>Manycountries</subject><subject>Savings</subject><subject>Statistical analysis</subject><subject>Studies</subject><subject>Terms of trade</subject><subject>Trade</subject><issn>0965-7576</issn><issn>1467-9396</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2003</creationdate><recordtype>article</recordtype><sourceid>8BJ</sourceid><recordid>eNqFUE1PGzEUtKoikVLOXKMeeluw1x9rH9sohZSoERDE8cnxvhVL9qv2Lm3-PQ6LcuDCk0ZPepqZNxpCzhg9Z3EumFBZYrhR55QKqj6RyeHymUyoUTLJZKaOyZcQnihlUhs6IWLR9Oh7rLvW22p6N2xCX_ZDX7bN1Db5dI2-DklbJGtvc5zePbZuG76So8JWAU_f9gm5_zVfz66S5epyMfuxTBw3XCXMGq21ozmTLMtFLrOCF2nON5LJjdUKGaXGGZWiKjBVzKWRzjjjBWqjjeMn5Pvo2_n274Chh7oMDqvKNtgOAbiWQqUyi8Rv74hP7eCbmA3SODGGkpF0MZKcb0PwWEDny9r6HTAK-wphXxjsC4PXCqPi96jw2KE70DeV9fhcxsszcBt13O4iUkp5XGWEiOgiFBWgmIbHvo5mYjT7V1a4--g33K4W8zFDMsrK0OP_g8z6LaiMZxIe_lyCET-vrvnNEpb8BcBEmL8</recordid><startdate>200309</startdate><enddate>200309</enddate><creator>Cashin, Paul</creator><creator>McDermott, C. John</creator><general>Blackwell Publishing Ltd</general><general>Wiley Blackwell</general><scope>BSCLL</scope><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>200309</creationdate><title>Intertemporal Substitution and Terms-of-Trade Shocks</title><author>Cashin, Paul ; McDermott, C. John</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c3936-1a9888c0d1517d4d57f3f2d3b515ba86e1009c962e6fe261c28881313fe8989c3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2003</creationdate><topic>Consumption</topic><topic>Data analysis</topic><topic>Economic models</topic><topic>Economic shock</topic><topic>Economic theory</topic><topic>Economics</topic><topic>Industry</topic><topic>Manycountries</topic><topic>Savings</topic><topic>Statistical analysis</topic><topic>Studies</topic><topic>Terms of trade</topic><topic>Trade</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Cashin, Paul</creatorcontrib><creatorcontrib>McDermott, C. John</creatorcontrib><collection>Istex</collection><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Review of international economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Cashin, Paul</au><au>McDermott, C. John</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Intertemporal Substitution and Terms-of-Trade Shocks</atitle><jtitle>Review of international economics</jtitle><date>2003-09</date><risdate>2003</risdate><volume>11</volume><issue>4</issue><spage>604</spage><epage>618</epage><pages>604-618</pages><issn>0965-7576</issn><eissn>1467-9396</eissn><abstract>The paper examines the relationship between transitory terms‐of‐trade shocks and private saving. Using a model allowing for nonseparability between the consumption of tradables and nontradables, the paper estimates the intertemporal elasticity of substitution while accounting for the intratemporal elasticity of substitution between the consumption of tradables and nontradables. Empirical analysis of data for five industrial countries indicates that in response to transitory terms‐of‐trade shocks, intertemporal substitution of consumption and intratemporal substitution of consumption between tradables and nontradables both have large effects on private saving.</abstract><cop>Oxford, UK</cop><pub>Blackwell Publishing Ltd</pub><doi>10.1111/1467-9396.00406</doi><tpages>15</tpages></addata></record>
fulltext fulltext
identifier ISSN: 0965-7576
ispartof Review of international economics, 2003-09, Vol.11 (4), p.604-618
issn 0965-7576
1467-9396
language eng
recordid cdi_proquest_miscellaneous_38546257
source EconLit s plnými texty; International Bibliography of the Social Sciences (IBSS); Wiley; BSC - Ebsco (Business Source Ultimate)
subjects Consumption
Data analysis
Economic models
Economic shock
Economic theory
Economics
Industry
Manycountries
Savings
Statistical analysis
Studies
Terms of trade
Trade
title Intertemporal Substitution and Terms-of-Trade Shocks
url http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-14T23%3A07%3A30IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Intertemporal%20Substitution%20and%20Terms-of-Trade%20Shocks&rft.jtitle=Review%20of%20international%20economics&rft.au=Cashin,%20Paul&rft.date=2003-09&rft.volume=11&rft.issue=4&rft.spage=604&rft.epage=618&rft.pages=604-618&rft.issn=0965-7576&rft.eissn=1467-9396&rft_id=info:doi/10.1111/1467-9396.00406&rft_dat=%3Cproquest_cross%3E420731051%3C/proquest_cross%3E%3Cgrp_id%3Ecdi_FETCH-LOGICAL-c3936-1a9888c0d1517d4d57f3f2d3b515ba86e1009c962e6fe261c28881313fe8989c3%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=222298865&rft_id=info:pmid/&rfr_iscdi=true