International Macroeconomic Fluctuations, Capital Mobility and the Current Account: A cointegrated approach

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dc.contributor.author HOFFMANN, Mathias en
dc.date.accessioned 2006-06-09T08:19:53Z
dc.date.available 2006-06-09T08:19:53Z
dc.date.created 1999 en
dc.date.issued 1999 en
dc.identifier.citation Florence, European University Institute, 1999
dc.identifier.uri http://hdl.handle.net/1814/4955
dc.description Defence date: 6 September 1999
dc.description Examining Board: Prof. Michael Artis, EUI, Supervisor ; Prof. Søren Johansen, EUI, Supervisor ; Prof. Mark Taylor, University of Warwick ; Prof. Axel Weber, University of Frankfurt
dc.description.abstract In this thesis cointegrated vectorautoregressions are used to explore the empirics of the intertemporal approach to the current account recently popularized by Sachs (1981), Obstfeld (1986), Obstfeld and Rogo? (1995a,b), Razin (1995), and Obstfeld and Rogo? (1996). The theoretical framework will be given throughout by quadratic models that allow for simple closed-form solutions. These models are not of particular theoretical interest but rather serve to motivate an important reduced-form implication that should also survive in more complicated model settings: the current account should be an order of magnitude less persistent than its driving forces, savings and investment. This prediction can be formalized as a cointegrating restriction in VAR-approximations of the data dynamics.
dc.format.medium Paper en
dc.language.iso en en
dc.relation.ispartofseries EUI PhD theses en
dc.relation.ispartofseries Department of Economics en
dc.relation.haspart http://hdl.handle.net/1814/23756
dc.subject.lcsh Foreign exchange rates
dc.subject.lcsh Capital movements
dc.title International Macroeconomic Fluctuations, Capital Mobility and the Current Account: A cointegrated approach en
dc.type Thesis en
dc.identifier.doi 10.2870/45469
dc.neeo.contributor HOFFMANN|Mathias|aut|
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