Mean Reversion of the Current Account and Sustainability: Evidence from European Countries
作者： Kurmaş Akdoğan
DOI:
关键词:
摘要: Stationarity of the current account is suggested as an indicator sustainability in literature. We explore presence mean-reverting behaviour accounts 24 European countries, using linear and nonlinear unit root tests. Our results suggest mean reversion account-to-GDP ratios for almost two-thirds countries our sample, hence; provide supporting evidence these countries.
参考文章(6)
Juan Carlos Cuestas, The Current Account Sustainability of European Transition Economies Journal of Common Market Studies. ,vol. 51, pp. 232- 245 ,(2013) , 10.1111/J.1468-5965.2012.02309.X
Robert Sollis, A simple unit root test against asymmetric STAR nonlinearity with an application to real exchange rates in Nordic countries Economic Modelling. ,vol. 26, pp. 118- 125 ,(2009) , 10.1016/J.ECONMOD.2008.06.002
George Kapetanios, Yongcheol Shin, Andy Snell, Testing for a Unit Root in the Nonlinear STAR Framework Journal of Econometrics. ,vol. 112, pp. 359- 379 ,(2003) , 10.1016/S0304-4076(02)00202-6
Bharat Trehan, Carl E. Walsh, Testing Intertemporal Budget Constraints: Theory and Applications to U. S. Federal Budget and Current Account Deficits Journal of Money, Credit and Banking. ,vol. 23, pp. 206- 223 ,(1991) , 10.2307/1992777
Alan Taylor, A Century of Current Account Dynamics Research Papers in Economics. ,(2002)
Dimitris Christopoulos, Miguel A. León-Ledesma, Current account sustainability in the US: What did we really know about it? Journal of International Money and Finance. ,vol. 29, pp. 442- 459 ,(2010) , 10.1016/J.JIMONFIN.2009.06.014