On the empirical evidence of the intertemporal current account model for the euro area countries
Author
Abstract
Suggested Citation
Note: 343031
Download full text from publisher
Other versions of this item:
- Michele Ca' Zorzi & Michał Rubaszek, 2012. "On the Empirical Evidence of the Intertemporal Current Account Model for the Euro Area Countries," Review of Development Economics, Wiley Blackwell, vol. 16(1), pages 95-106, February.
References listed on IDEAS
- Paul R. Bergin & Steven M. Sheffrin, 2017.
"Interest Rates, Exchange Rates and Present Value Models of the Current Account,"
World Scientific Book Chapters, in: International Macroeconomic Interdependence, chapter 10, pages 287-316,
World Scientific Publishing Co. Pte. Ltd..
- Bergin, Paul R & Sheffrin, Steven M, 2000. "Interest Rates, Exchange Rates and Present Value Models of the Current Account," Economic Journal, Royal Economic Society, vol. 110(463), pages 535-558, April.
- Paul Bergin & Steven Sheffrin, "undated". "Interest Rates, Exchange Rates And Present Value Models Of The Current Account," Department of Economics 97-22, California Davis - Department of Economics.
- Paul Bergin & Steven M. Sheffrin, 2003. "Interest Rates, Exchange Rates And Present Value Models Of The Current Account," Working Papers 223, University of California, Davis, Department of Economics.
- Chinn, Menzie D. & Prasad, Eswar S., 2003.
"Medium-term determinants of current accounts in industrial and developing countries: an empirical exploration,"
Journal of International Economics, Elsevier, vol. 59(1), pages 47-76, January.
- Menzie David Chinn & Mr. Eswar S Prasad, 2000. "Medium-Term Determinants of Current Accounts in Industrial and Developing Countries: An Empirical Exploration," IMF Working Papers 2000/046, International Monetary Fund.
- Menzie D. Chinn & Eswar S. Prasad, 2000. "Medium-Term Determinants of Current Accounts in Industrial and Developing Countries: An Empirical Exploration," NBER Working Papers 7581, National Bureau of Economic Research, Inc.
- Schmitt-Grohe, Stephanie & Uribe, Martin, 2003.
"Closing small open economy models,"
Journal of International Economics, Elsevier, vol. 61(1), pages 163-185, October.
- Stephanie Schmitt-Grohe & Martin Uribe, 2001. "Closing Small Open Economy Models," Departmental Working Papers 200115, Rutgers University, Department of Economics.
- Stephanie Schmitt-Grohe & Martin Uribe, 2002. "Closing Small Open Economy Models," NBER Working Papers 9270, National Bureau of Economic Research, Inc.
- Uribe, MartÃn & Schmitt-Grohé, Stephanie, 2002. "Closing Small Open Economy Models," CEPR Discussion Papers 3096, C.E.P.R. Discussion Papers.
- Mr. Philip Schellekens & Mr. Rudolfs Bems, 2007. "Finance and Convergence: What’s Ahead for Emerging Europe?," IMF Working Papers 2007/244, International Monetary Fund.
- Campa, Jose Manuel & Gavilan, Angel, 2011.
"Current accounts in the euro area: An intertemporal approach,"
Journal of International Money and Finance, Elsevier, vol. 30(1), pages 205-228, February.
- José Manuel Campa & Ángel Gavilán, 2007. "Current accounts in the euro area: an intertemporal approach," Economic Bulletin, Banco de España, issue APR, pages 121-129, April.
- Campa, Jose M. & Gavilán, Angel, 2006. "Current accounts in the euro area: An intertemporal approach," IESE Research Papers D/651, IESE Business School.
- José M. Campa & Ángel Gavilán, 2006. "Current accounts in the euro area: An intertemporal approach," Working Papers 0638, Banco de España.
- Obstfeld, Maurice & Rogoff, Kenneth, 1995.
"The intertemporal approach to the current account,"
Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 34, pages 1731-1799,
Elsevier.
- Maurice Obstfeld and Kenneth Rogoff., 1994. "The Intertemporal Approach to the Current Account," Center for International and Development Economics Research (CIDER) Working Papers C94-044, University of California at Berkeley.
- Maurice Obstfeld & Kenneth Rogoff, 1994. "The Intertemporal Approach to the Current Account," NBER Working Papers 4893, National Bureau of Economic Research, Inc.
- Obstfeld, Maurice & Rogoff, Kenneth, 1994. "The Intertemporal Approach to the Current Account," Center for International and Development Economics Research (CIDER) Working Papers 233395, University of California-Berkeley, Department of Economics.
- Pierpaolo Benigno, 2009.
"Price Stability with Imperfect Financial Integration,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(s1), pages 121-149, February.
- Pierpaolo Benigno, 2009. "Price Stability with Imperfect Financial Integration," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(s1), pages 121-149, February.
- Pierpaolo Benigno, 2008. "Price stability with imperfect financial integration," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
- Benigno, Pierpaolo, 2001. "Price Stability with Imperfect Financial Integration," CEPR Discussion Papers 2854, C.E.P.R. Discussion Papers.
- Jesus Crespo Cuaresma & Doris Ritzberger-Grunwald & Maria Antoinette Silgoner, 2008.
"Growth, convergence and EU membership,"
Applied Economics, Taylor & Francis Journals, vol. 40(5), pages 643-656.
- Jesus Crespo Cuaresma & Maria Antoinette Dimitz & Doris Ritzberger-Grünwald, 2002. "Growth, Convergence and EU Membership," Working Papers 62, Oesterreichische Nationalbank (Austrian Central Bank).
- Bernanke, Ben S. & Gertler, Mark & Gilchrist, Simon, 1999.
"The financial accelerator in a quantitative business cycle framework,"
Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 21, pages 1341-1393,
Elsevier.
- Bernanke, B. & Gertler, M. & Gilchrist, S., 1998. "The Financial Accelerator in a Quantitative Business Cycle Framework," Working Papers 98-03, C.V. Starr Center for Applied Economics, New York University.
- Ben Bernanke & Mark Gertler & Simon Gilchrist, 1998. "The Financial Accelerator in a Quantitative Business Cycle Framework," NBER Working Papers 6455, National Bureau of Economic Research, Inc.
- Gabriel Fagan, 2007.
"Adjusting to the Euro,"
Working Papers
w200703, Banco de Portugal, Economics and Research Department.
- Fagan, Gabriel & Gaspar, Vítor, 2007. "Adjusting to the euro," Working Paper Series 716, European Central Bank.
- Nason, James M. & Rogers, John H., 2006.
"The present-value model of the current account has been rejected: Round up the usual suspects,"
Journal of International Economics, Elsevier, vol. 68(1), pages 159-187, January.
- James M. Nason and John H. Rogers, 2001. "The Present Value Model of the Current Account Has Been Rejected: Round Up the Usual Subjects," Computing in Economics and Finance 2001 102, Society for Computational Economics.
- James M. Nason & John H. Rogers, 2003. "The present-value model of the current account has been rejected: round up the usual suspects," International Finance Discussion Papers 760, Board of Governors of the Federal Reserve System (U.S.).
- James M. Nason & John H. Rogers, 2003. "The present-value model of the current account has been rejected: Round up the usual suspects," FRB Atlanta Working Paper 2003-7, Federal Reserve Bank of Atlanta.
- Robert G. King & Alexander L. Wolman, 2013.
"Inflation Targeting in a St. Louis Model of the 21st Century,"
Review, Federal Reserve Bank of St. Louis, issue Nov, pages 543-574.
- Robert G. King & Alexander L. Wolman, 1996. "Inflation targeting in a St. Louis model of the 21st century," Proceedings, Federal Reserve Bank of St. Louis, vol. 78(May), pages 83-107.
- Robert G. King & Alexander L. Wolman, 1996. "Inflation targeting in a St. Louis model of the 21st century," Review, Federal Reserve Bank of St. Louis, vol. 78(May), pages 83-107.
- Robert G. King & Alexander L. Wolman, 1996. "Inflation Targeting in a St. Louis Model of the 21st Century," NBER Working Papers 5507, National Bureau of Economic Research, Inc.
- Olivier Blanchard & Francesco Giavazzi, 2002. "Current Account Deficits in the Euro Area: The End of the Feldstein Horioka Puzzle?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 33(2), pages 147-210.
- Campbell, John Y, 1987.
"Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis,"
Econometrica, Econometric Society, vol. 55(6), pages 1249-1273, November.
- John Y. Campbell, 1986. "Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis," NBER Working Papers 1805, National Bureau of Economic Research, Inc.
- Hayashi, Fumio, 1982.
"Tobin's Marginal q and Average q: A Neoclassical Interpretation,"
Econometrica, Econometric Society, vol. 50(1), pages 213-224, January.
- Fumio Hayashi, 1981. "Tobin's Marginal q and Average a : A Neoclassical Interpretation," Discussion Papers 457, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Campbell, John Y & Shiller, Robert J, 1987.
"Cointegration and Tests of Present Value Models,"
Journal of Political Economy, University of Chicago Press, vol. 95(5), pages 1062-1088, October.
- John Y. Campbell & Robert J. Shiller, 1986. "Cointegration and Tests of Present Value Models," Cowles Foundation Discussion Papers 785, Cowles Foundation for Research in Economics, Yale University.
- Campbell, John & Shiller, Robert, 1987. "Cointegration and Tests of Present Value Models," Scholarly Articles 3122490, Harvard University Department of Economics.
- John Y. Campbell & Robert J. Shiller, 1986. "Cointegration and Tests of Present Value Models," NBER Working Papers 1885, National Bureau of Economic Research, Inc.
- Gruber, Joseph W., 2004. "A present value test of habits and the current account," Journal of Monetary Economics, Elsevier, vol. 51(7), pages 1495-1507, October.
- Mr. Jacques A Miniane & Benoît Mercereau, 2004. "Challenging the Empirical Evidence From Present Value Models of the Current Account," IMF Working Papers 2004/106, International Monetary Fund.
- Jeffrey D. Sachs, 1981. "The Current Account and macroeconomic Adjustment in the 1970s," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 12(1), pages 201-282.
- Fratzscher, Marcel & Müller, Gernot J. & Bussière, Matthieu, 2004. "Current accounts dynamics in OECD and EU acceding countries - an intertemporal approach," Working Paper Series 311, European Central Bank.
- Sheffrin, Steven M. & Woo, Wing Thye, 1990.
"Present value tests of an intertemporal model of the current account,"
Journal of International Economics, Elsevier, vol. 29(3-4), pages 237-253, November.
- Sheffrin, S.M. & Woo, W.T., 1989. "Present Value Tests Of An Intertemporal Model Of The Current Account," Papers 61, California Davis - Institute of Governmental Affairs.
- repec:onb:oenbwp:y::i:62:b:1 is not listed on IDEAS
- Frank Smets & Raf Wouters, 2003.
"An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area,"
Journal of the European Economic Association, MIT Press, vol. 1(5), pages 1123-1175, September.
- Frank Smets & Raf Wouters, 2002. "An estimated dynamic stochastic general equilibrium model of the euro area," Working Paper Research 35, National Bank of Belgium.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Patrik RYFF, 2010. "Friedman Meets the Joneses: A Model of Essential Money with Consumption Externalities," EcoMod2010 259600146, EcoMod.
- Mariam Camarero & Josep Lluís Carrion-i-Silvestre & Cecilio Tamarit, 2010.
"External imbalances in a monetary union. Does the Lawson doctrine apply to Europe?,"
Working Papers
10-09, Asociación Española de Economía y Finanzas Internacionales.
- Josep Lluís CARRION-I-SILVESTRE & Mariam CAMARERO & Josep LLUÍS CARRION-I-SILVESTRE & Cecilio TAMARIT, 2010. "External Imbalances in a Monetary Union. Does the Lawson Doctrine Apply to Europe?," EcoMod2010 259600036, EcoMod.
- Mariam Camarero & Josep Lluís Carrion-i-Silvestre & Cecilio Tamarit, 2010. "External imbalances in a monetary union. Does the Lawson doctrine apply to Europe?," Working Papers 1006, Department of Applied Economics II, Universidad de Valencia.
- Campa, Jose Manuel & Gavilan, Angel, 2011.
"Current accounts in the euro area: An intertemporal approach,"
Journal of International Money and Finance, Elsevier, vol. 30(1), pages 205-228, February.
- José Manuel Campa & Ángel Gavilán, 2007. "Current accounts in the euro area: an intertemporal approach," Economic Bulletin, Banco de España, issue APR, pages 121-129, April.
- Campa, Jose M. & Gavilán, Angel, 2006. "Current accounts in the euro area: An intertemporal approach," IESE Research Papers D/651, IESE Business School.
- José M. Campa & Ángel Gavilán, 2006. "Current accounts in the euro area: An intertemporal approach," Working Papers 0638, Banco de España.
- Kano, Takashi, 2008.
"A structural VAR approach to the intertemporal model of the current account,"
Journal of International Money and Finance, Elsevier, vol. 27(5), pages 757-779, September.
- Takashi Kano, 2003. "A Structural VAR Approach to the Intertemporal Model of the Current Account," Staff Working Papers 03-42, Bank of Canada.
- Garg, Bhavesh & Prabheesh, K.P., 2017. "Drivers of India’s current account deficits, with implications for ameliorating them," Journal of Asian Economics, Elsevier, vol. 51(C), pages 23-32.
- Tahir Mukhtar & Aliya H. Khan, 2011. "The Current Account Dynamics in Pakistan: An Intertemporal Optimisation Perspective," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 50(4), pages 401-421.
- Oyakhilome IBHAGUI, 2017.
"Understanding the sources of high current account fluctuations in 5 developed economies,"
Turkish Economic Review, KSP Journals, vol. 4(3), pages 250-274, September.
- Ibhagui, Oyakhilome, 2015. "Understanding the Sources of High Current Account Fluctuations in 5 Developed Economies," MPRA Paper 75881, University Library of Munich, Germany.
- Michele Ca’ Zorzi & Alexander Chudik & Alistair Dieppe, 2012. "And then current accounts (over)adjusted," Empirical Economics, Springer, vol. 43(1), pages 245-270, August.
- Mercereau, Benoît & Miniane, Jacques Alain, 2008. "Should We Trust the Empirical Evidence from Present Value Models of the Current Account?," Economics Discussion Papers 2008-10, Kiel Institute for the World Economy (IfW Kiel).
- Tarlok Singh, 2007. "Intertemporal Optimizing Models Of Trade And Current Account Balance: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 21(1), pages 25-64, February.
- Sophocles Brissimis & George Hondroyiannis & Christos Papazoglou & Nicholas Tsaveas & Melina Vasardani, 2012.
"Current account determinants and external sustainability in periods of structural change,"
Economic Change and Restructuring, Springer, vol. 45(1), pages 71-95, February.
- Sophocles N. Brissimis & George Hondroyiannis & Christos Papazoglou & Nicholas T. Tsaveas & Melina A. Vasardani, 2010. "Current account determinants and external sustainability in periods of structural change," Working Papers 117, Bank of Greece.
- Brissimis, Sophocles N. & Hondroyiannis, George & Papazoglou, Christos & Tsaveas, Nicholas T. & Vasardani, Melina A., 2010. "Current account determinants and external sustainability in periods of structural change," Working Paper Series 1243, European Central Bank.
- Kano, Takashi, 2009.
"Habit formation and the present-value model of the current account: Yet another suspect,"
Journal of International Economics, Elsevier, vol. 78(1), pages 72-85, June.
- Takashi Kano, 2007. "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect," CIRJE F-Series CIRJE-F-505, CIRJE, Faculty of Economics, University of Tokyo.
- Takashi Kano, 2008. "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect," CIRJE F-Series CIRJE-F-572, CIRJE, Faculty of Economics, University of Tokyo.
- Bajo-Rubio, Oscar & Esteve, Vicente, 2021.
"The Current Account Of The Spanish Economy, 1850-2016: Was It Optimal?,"
Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 39(2), pages 329-354, September.
- Oscar Bajo-Rubio & Vicente Esteve, 2017. "Optimality of the current account of the Spanish economy, 1850-2015," Working Papers 1710, Department of Applied Economics II, Universidad de Valencia.
- Ca' Zorzi, Michele & Dieppe, Alistair & Chudik, Alexander, 2009. "Current account benchmarks for central and eastern Europe: a desperate search?," Working Paper Series 995, European Central Bank.
- Bussière, Matthieu & Ca' Zorzi, Michele & Chudik, Alexander & Dieppe, Alistair, 2010. "Methodological advances in the assessment of equilibrium exchange rates," Working Paper Series 1151, European Central Bank.
- Mr. Jacques A Miniane & Benoît Mercereau, 2004. "Challenging the Empirical Evidence From Present Value Models of the Current Account," IMF Working Papers 2004/106, International Monetary Fund.
- Bussière, Matthieu & Karadimitropoulou, Aikaterini E. & León-Ledesma, Miguel A., 2021.
"Current Account Dynamics And The Real Exchange Rate: Disentangling The Evidence,"
Macroeconomic Dynamics, Cambridge University Press, vol. 25(1), pages 28-58, January.
- Matthieu Bussiere & Aikaterini Karadimitropoulou & Miguel A. Leon-Ledesma, 2017. "Current account dynamics and the real exchange rate: Disentangling the evidence," University of East Anglia School of Economics Working Paper Series 2017-06, School of Economics, University of East Anglia, Norwich, UK..
- Matthieu Bussiere & Aikaterini Karadimitropoulou & Miguel A. Leon-Ledesma, 2017. "Current account dynamics and the real exchange rate: disentangling the evidence," Working Papers 239, Bank of Greece.
- Luo, Yulei & Nie, Jun & Young, Eric R., 2012.
"Robustness, information–processing constraints, and the current account in small open economies,"
Journal of International Economics, Elsevier, vol. 88(1), pages 104-120.
- Yulei Luo & Jun Nie & Eric Young, 2010. "Robustness, information-processing constraints, and the current account in small open economies," Research Working Paper RWP 10-17, Federal Reserve Bank of Kansas City.
- Ca’ Zorzi, Michele & Chudik, Alexander & Dieppe, Alistair, 2012.
"Thousands of models, one story: Current account imbalances in the global economy,"
Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1319-1338.
- Michele Ca' Zorzi & Alistair Dieppe & Alex Chudik, 2011. "Thousands of Models, One Story: Current Account Imbalances in the Global Economy," EcoMod2011 3184, EcoMod.
- Michele Ca' Zorzi & Alexander Chudik & Alistair Dieppe, 2011. "Thousands of models, one story: current account imbalances in the global economy," Globalization Institute Working Papers 100, Federal Reserve Bank of Dallas.
- Ca' Zorzi, Michele & Dieppe, Alistair & Chudik, Alexander, 2012. "Thousands of models, one story: current account imbalances in the global economy," Working Paper Series 1441, European Central Bank.
- Osman F. Abbasoğlu & Ayşe İmrohoroğlu & Ayşe Kabukçuoğlu, 2019. "The Turkish Current Account Deficit," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 515-536, January.
More about this item
Keywords
current account; euro area.; General equilibrium models; intertemporal optimisation;All these keywords.
JEL classification:
- D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecb:ecbwps:2008895. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Official Publications (email available below). General contact details of provider: https://edirc.repec.org/data/emieude.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.