Terms-of-trade shocks and sector labor reallocation : the case of Jamaica, Guyana, and Trinidad and Tobago
- [St. Augustine]TT [Caribbean Centre for Money and Finance] 2009
- 19, [9] p.
Quantifies the long-run impact of terms-of-trade shocks on real gross domestic income growth of Jamaica, Guyana, and Trinidad and Tobago and relates these effects to the reallocation of labour across sectors in response to such shocks. Discusses broadly defined fiscal policy responses that may mitigate or exacerbate the incidence of terms-of-trade shocks on income growth via the sector labour allocation channel.