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Title:Are exports and imports of Chile cointegrated? PDF Logo
Authors:Herzer, Dierk
Nowak-Lehmann D., Felicitas
Issue Date:2005
Series/Report no.:Discussion papers // Ibero America Institute for Economic Research 111
Abstract:This study examines the long-run relationship between Chilean exports and imports during the 1975-2004 period using unit root tests and cointegration techniques that allow for endogenously determined structural breaks. The results indicate that there exists a long-run equilibrium between exports and imports in Chile, despite the balance-of-payments crisis of 1982-83. This finding implies that Chile\'s macroeconomic policies have been effective in the long-run and suggests that Chile is not in violation of its international budget constraint.
Subjects:Exports
imports
cointegration
structural break
Chile
JEL:F32
F10
C22
Document Type:Working Paper
Appears in Collections:Discussion Papers, IAI, Universität Göttingen

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