@article{TermsofTradeMovementsinMajorIndustrialCountries:658,
      recid = {658},
      author = {Roger, Scott},
      title = {Terms of Trade Movements in Major Industrial Countries,  1969-1989},
      publisher = {Bank of Canada},
      address = {1991},
      pages = {1 online resource (15 pages plus tables)},
      abstract = {This paper examines absolute and relative terms of trade  movements in twelve major industrial countries over the  1969-89 period. The results suggest that simple  correlations between movements in a country’s absolute  terms of trade and those of world oil and non-oil commodity  prices may at times give a very misleading impression of  the magnitude, and even the direction, of exchange rate  pressures exerted by such commodity price changes. Simple  measures of the variability of a country’s absolute terms  of trade may also give a biased impression of the costs  associated with entering a fixed exchange rate or common  currency arrangement. The relative terms of trade measures  presented in this paper are designed to overcome these  difficulties. The quantitative results and  variance/covariance relationships that are obtained from  the analysis have considerable intuitive appeal and suggest  that the relative terms of trade measures may prove more  useful than their absolute counterparts for certain  analytic purposes.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/658},
      doi = {https://doi.org/10.34989/swp-1991-2},
}