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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), pp. 148-163. (doi:10.1111/1468-0297.00625).

Record type: Article

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.

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Published date: 2001
Organisations: Economics

Identifiers

Local EPrints ID: 32957
URI: http://eprints.soton.ac.uk/id/eprint/32957
ISSN: 0013-0133
PURE UUID: f9627892-f782-4059-8161-a1ebc0c09a07

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Date deposited: 19 May 2006
Last modified: 17 Jul 2017 15:54

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Author: Mathias Hoffmann

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