Current Account and Macroeconomic Fluctuations
The primary purpose of this study is to establish some "stylized facts" about current account and macroeconomic fluctuations in Sweden. Another purpose is to propose a multivariate detrending technique that is based on a time-series model with common, stochastic trends. This technique should be useful for establishing stylized facts about macroeconomic fluctuations in general. The descriptive statistics in this analysis are, thus, confined to the transitory components of the time series. In contrast with results obtained for other countries, the authors find, e.g., that the current account is procyclical. Copyright 1991 by The editors of the Scandinavian Journal of Economics.
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Volume (Year): 93 (1991)
Issue (Month): 4 ()
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