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Harberger-Laursen-Metzler effect : ウィキペディア英語版 | Harberger-Laursen-Metzler effect
Harberger-Laursen-Metzler effect is the conjecture or result that a terms of trade deterioration will cause a decrease in savings due to the decrease in real income, and therefore that a real depreciation will cause an increase in real expenditure. Accordingly, this would cause an improvement of the current account. The theory was offered by Harberger (1950)〔Harberger, A. 1950. “Currency Depreciation, Income and the Balance of Trade.” Journal of Political Economy 58: 47-60.〕 and Laursen and Metzler (1950).〔Laursen, S. and L. Metzler, 1950. “Flexible Exchange Rate and the Theory of Employment.” Review of Economics and Statistics 32: 281-99.〕 ==See also==
*terms of trade *Prebisch–Singer hypothesis
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