Are exports and imports of Chile cointegrated?
AbstractThis study examines the long-run relationship between Chilean exports and imports during the 1975-2004 period using unit root tests and cointegration techniques that allow for endogenously determined structural breaks. The results indicate that there exists a long-run equilibrium between exports and imports in Chile, despite the balance-of-payments crisis of 1982-83. This finding implies that Chile\'s macroeconomic policies have been effective in the long-run and suggests that Chile is not in violation of its international budget constraint.
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Bibliographic InfoPaper provided by Ibero-America Institute for Economic Research in its series Ibero America Institute for Econ. Research (IAI) Discussion Papers with number 111.
Length: 13 pages
Date of creation: 12 Jul 2005
Date of revision:
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Exports; imports; cointegration; structural break; Chile;
Find related papers by JEL classification:
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F10 - International Economics - - Trade - - - General
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-06-14 (All new papers)
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