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dc.contributor.authorHOFFMANN, Mathiasen
dc.date.accessioned2006-06-09T08:19:53Z
dc.date.available2006-06-09T08:19:53Z
dc.date.issued1999en
dc.identifier.citationFlorence, European University Institute, 1999
dc.identifier.urihttp://hdl.handle.net/1814/4955
dc.descriptionDefence date: 6 September 1999
dc.descriptionExamining 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.abstractIn 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.mediumPaperen
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.relation.ispartofseriesEUI PhD thesesen
dc.relation.ispartofseriesDepartment of Economicsen
dc.relation.hasparthttp://hdl.handle.net/1814/23756
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subject.lcshForeign exchange rates
dc.subject.lcshCapital movements
dc.titleInternational Macroeconomic Fluctuations, Capital Mobility and the Current Account: A cointegrated approachen
dc.typeThesisen
dc.identifier.doi10.2870/45469
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