International Macroeconomic Fluctuations and the Current Account

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dc.contributor.author HOFFMANN, Mathias
dc.date.accessioned 2012-09-13T13:04:45Z
dc.date.available 2012-09-13T13:04:45Z
dc.date.issued 2003
dc.identifier.citation The Canadian Journal of Economics, 2003, 36, 2, 401-420 en
dc.identifier.issn 0008-4085
dc.identifier.issn 1540-5982
dc.identifier.uri http://hdl.handle.net/1814/23755
dc.description (The article is a revised version of a chapter of the author's EUI PhD thesis, 1999.) http://hdl.handle.net/1814/4955 en
dc.description.abstract Intertemporal models of the current account generally assume that global shocks do not affect the current account. We use this assumption to identify global and country-specific shocks in a bivariate VAR of output and the current account. Cross-country evidence from the G7 economies suggests that this identification works surprisingly well. We then employ our method to collect stylized facts on international macroeconomic fluctuations. We find that long-term output growth is driven mainly by global factors in most G7 countries and that country-specific shocks are less persistent and generally less volatile than global shocks. en
dc.language.iso en en
dc.relation.ispartof The Canadian Journal of Economics en
dc.title International Macroeconomic Fluctuations and the Current Account en
dc.type Article en
dc.identifier.doi 10.1111/1540-5982.t01-1-00006
dc.neeo.contributor HOFFMANN|Mathias|aut|
dc.identifier.volume 36 en


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