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The unit terms-of-trade multiplier

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  1. Indiana University, Bloomington, Indiana, USA

    Franz Gehrels

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  1. Franz Gehrels
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I am indebted to F. Modigliani and W. A. Salant for clarifying me on several points. The former helped me to see some implications of putting the argument in real rather than money terms. The latter corrected me on some misunderstandings of the Laursen-Metzler article commented on below.

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Gehrels, F. The unit terms-of-trade multiplier. Zeitschr. f. Nationalökonomie 20, 233–237 (1960). https://doi.org/10.1007/BF01316333

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