01843cas a2200241 a 4500 AALejournalIMF001558 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451924121 1018-5941 BD-DhAAL BD-DhAAL Mendoza, Enrique. A Quantitative Examination of Current Account Dynamics in Equilibrium Models of Barter Economies / Enrique Mendoza. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides a numerical analysis of an intertemporal equilibrium model of a small open, barter economy that is subject to random shocks affecting endowments, the terms of trade, and the real interest rate. Equilibrium stochastic processes for macroeconomic aggregates are computed and their properties are compared with observed stylized facts. The model mimics the Harberger-Laursen-Metzler effect, but cannot account for a countercyclical trade balance, the variability of the real exchange rate, and the income elasticity of imports. The results also show that the correlation between the trade balance and the terms of trade, given incomplete insurance markets, is sensitive to changes in preference parameters and in the persistence of exogenous shocks. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1992/014 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/014/001.1992.issue-014-en.xml IMF e-Library