Asymmetric Dynamics in the Current Account: Evidence from Long-Horizon Data

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Asymmetric Dynamics in the Current Account: Evidence from Long-Horizon Data

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Ibrahim Chowdhury
Gregory Gadzinski
Mathias Hoffmann

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Abstract

This letter investigates the presence of asymmetric dynamics in the behaviour of the current account as emphasized in recent theoretical contributions. We estimate a Markov switching model for long-horizon current account to GDP data for six countries and find substantial asymmetries in the behaviour of current account dynamics.

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Paper provided by University of Cologne, Department of Economics in its series Working Paper Series in Economics with number 13.

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Date of creation: 27 Sep 2004
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Handle: RePEc:kls:series:0013

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Find related papers by JEL classification:
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions

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- Maurice Obstfeld and Kenneth Rogoff., 2000. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," Center for International and Development Economics Research (CIDER) Working Papers C00-112, University of California at Berkeley. [Downloadable!]
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Other versions:
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