Jackknife Model Averaging of the Current Account Determinants
AbstractThis paper investigates the short to medium-term empirical relationships between the current account balances and a broad set of macroeconomic determinants in Serbia and selected CEE countries. Using novel model averaging techniques we focus the analysis to individual country’s data only. The results suggest that the model tracks the current account movements over the past decade quite well and captures its relative volatility. Signs and magnitudes of different coefficients indicate significant heterogeneity among countries providing empirical support for the country-level analysis.
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Bibliographic InfoPaper provided by National Bank of Serbia in its series Working papers with number 23.
Length: 18 pages
Date of creation: Jul 2012
Date of revision:
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Postal: National Bank of Serbia, 12 Kralja Petra St, 11 000 Belgrade, Republic of Serbia
Web page: http://www.nbs.rs
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Current account; Model averaging; Transition countries;
Find related papers by JEL classification:
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
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