The Recent Behavior of U.S. Trade Prices

Daniel Citrin
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Daniel Citrin: International Monetary Fund

IMF Staff Papers, 1989, vol. 36, issue 4, 934-949

Abstract: The adjustment of U.S. trade prices--and, hence, of merchandise trade flows--in the face of the substantial dollar depreciation since early 1985 has been slower than might have been expected. This paper examines the recent behavior of U.S. trade prices and concludes that the modest movements are largely attributable to a decline in computer prices, the growing importance of computers in U.S. trade, and swings in commodity prices. Empirical results suggest that once the influences of computer and commodity prices are taken into account, the recent behavior of U.S. trade prices is not out of line with historical experience.

Date: 1989
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