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dc.contributor.authorAßmann, Christianen
dc.date.accessioned2009-01-29T14:13:38Z-
dc.date.available2009-01-29T14:13:38Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aKiel University, Department of Economics |cKielen
dc.relation.ispartofseries|aEconomics Working Paper |x2007-17en
dc.subject.jelF32en
dc.subject.jelF43en
dc.subject.jelC33en
dc.subject.jelC35en
dc.subject.jelC30en
dc.subject.ddc330en
dc.subject.keywordCurrent account reversalsen
dc.subject.keywordBayesian Analysisen
dc.subject.keywordPanel Probit Modelen
dc.subject.keywordPanel Treatment Modelen
dc.subject.keywordRandom Parametersen
dc.subject.keywordSerial Correlationen
dc.subject.stwLeistungsbilanzen
dc.subject.stwZahlungsbilanzungleichgewichten
dc.subject.stwAnpassungskostenen
dc.subject.stwBayes-Statistiken
dc.subject.stwSchätztheorieen
dc.subject.stwProbit-Modellen
dc.subject.stwSchätzungen
dc.subject.stwWelten
dc.titleDeterminants and Costs of Current Account Reversals under Heterogeneity and Serial Correlation-
dc.typeWorking Paperen
dc.identifier.ppn537548262en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cauewp:5683en

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