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Jackknife Model Averaging of the Current Account Determinants

Author

Listed:
  • Milan Nedeljkovic

    (National Bank of Serbia)

  • Branko Uroševic

    (National Bank of Serbia)

  • Emir Zildžovic

    (National Bank of Serbia)

Abstract

This 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.

Suggested Citation

  • Milan Nedeljkovic & Branko Uroševic & Emir Zildžovic, 2012. "Jackknife Model Averaging of the Current Account Determinants," Working papers 23, National Bank of Serbia.
  • Handle: RePEc:nsb:wpaper:23
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    References listed on IDEAS

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    More about this item

    Keywords

    Current account; Model averaging; Transition countries;

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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