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dc.contributor.authorAßmann, Christianen_US
dc.date.accessioned2009-01-29T14:13:38Z-
dc.date.available2009-01-29T14:13:38Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/22033-
dc.description.abstractRecent empirical evidence suggests that reversing current account balances imply costly adjustment processes leading to reduced economic growth. Using large panel data sets to analyze determinants and costs of reversals asks for controls of heterogeneity among countries. This paper contributes a Bayesian analysis, which allows a parsimonious yet flexible handling of country specific heterogeneity via random coeffcients. Furthermore, the analysis allows for serially correlated errors in order to capture persistence within the employed macroeconomic data. Bayesian specification tests provide evidence in favor of models incorporating heterogeneity and serial correlation. The results suggest that consideration of serial correlation and heterogeneity is necessary to assess correctly the determinants and costs of reversals. Results are checked for robustness against the underlying reversal definition.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesEconomics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2007,17en_US
dc.subject.jelF32en_US
dc.subject.jelF43en_US
dc.subject.jelC33en_US
dc.subject.jelC35en_US
dc.subject.jelC30en_US
dc.subject.ddc330en_US
dc.subject.keywordCurrent account reversalsen_US
dc.subject.keywordBayesian Analysisen_US
dc.subject.keywordPanel Probit Modelen_US
dc.subject.keywordPanel Treatment Modelen_US
dc.subject.keywordRandom Parametersen_US
dc.subject.keywordSerial Correlationen_US
dc.subject.stwLeistungsbilanzen_US
dc.subject.stwZahlungsbilanzungleichgewichten_US
dc.subject.stwAnpassungskostenen_US
dc.subject.stwBayes-Statistiken_US
dc.subject.stwSchätztheorieen_US
dc.subject.stwProbit-Modellen_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.titleDeterminants and Costs of Current Account Reversals under Heterogeneity and Serial Correlationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn537548262en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:cauewp:5683-
Appears in Collections:Economics Working Papers, Department of Economics, CAU Kiel

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