The relative dynamics of the current account and investment in the G7-Economies
Hoffmann, Mathias (2001) The relative dynamics of the current account and investment in the G7-Economies. The Economic Journal, 111, (471), 148-163. (doi:10.1111/1468-0297.00625).
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Description/Abstract
This paper contributes to the empirics of the intertemporal approach to the current account. We use a cointegrated VAR framework to identify permanent and transitory components of country-specific and global shocks. Our approach allows us to investigate empirically the sensitivity to persistence implied by many forward-looking models and our results shed new light on the excess volatility of investment encountered by Glick and Rogoff (1995). In G7 data, we find the relative current-account and investment response to be in line with the intertemporal approach.
| Item Type: | Article |
|---|---|
| ISSNs: | 0013-0133 (print) |
| Related URLs: | |
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | University Structure - Pre August 2011 > School of Social Sciences > Economics |
| Item ID: | 32957 |
| Date Deposited: | 19 May 2006 |
| Last Modified: | 01 Jun 2011 02:10 |
| Contributors: | Hoffmann, Mathias (Author) |
| Date: | 2001 |
| Status: | Published |
| URI: | http://eprints.soton.ac.uk/id/eprint/32957 |
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