Sustainability of external imbalances in the OECD countries
In this paper, we provide a test of the sustainability of external imbalances in the OECD countries over the years 1970-2007, i.e., before the beginning of the international financial crisis. Specifically, we deal with the case of those countries that have experienced current account deficits in more than half of the years throughout the period of analysis, and address the recent critique of Bohn (2007) on unit root and cointegration tests of the intertemporal budget constraint.
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- Enrique G. Mendoza & Marco Terrones & Ceyhun Bora Durdu, 2010.
"On the Solvency of Nations; Are Global Imbalances Consistent with Intertemporal Budget Constraints?,"
IMF Working Papers
10/50, International Monetary Fund.
- Ceyhun Bora Durdu & Enrique G. Mendoza & Marco E. Terrones, 2009. "On the solvency of nations: are global imbalances consistent with intertemporal budget constraints?," International Finance Discussion Papers 975, Board of Governors of the Federal Reserve System (U.S.).
- Reuven Glick & Mark M. Spiegel, 2010. "Asia and the global financial crisis: conference summary," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar15.
- Nicholas Apergis & Konstantinos Katrakilidis & Nicholas Tabakis, 2000. "Current account deficit sustainability: The case of Greece," Applied Economics Letters, Taylor & Francis Journals, vol. 7(9), pages 599-603.
- Jyh-lin, Wu & Fountas, Stilianos & Show-lin, Chen, 1996.
"Testing for the sustainability of the current account deficit in two industrial countries,"
Elsevier, vol. 52(2), pages 193-198, August.
- Jyh-lin Wu & Stilianos Fountas & Show-lin Chen, 1996. "Testing for the Sustainability of the Current Account Deficit in Two Industrial Countries," Working Papers 11, National University of Ireland Galway, Department of Economics, revised 1996.
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