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dc.contributor.authorKaradimitropoulou, Aikaterinien_US
dc.contributor.authorLeón-Ledesma, Miguel A.en_US
dc.date.accessioned2011-10-21T16:52:50Z-
dc.date.available2011-10-21T16:52:50Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/50583-
dc.description.abstractWe analyze the sources of current account fluctuations for the G6 economies. Based on Bergin and Sheffrin's (2000) two-goods inter-temporal framework, we build a SVAR model including the world real interest rate, net output, real exchange rate, and the current account. The theory model allows for the identification of structural shocks in the SVAR using longrun restrictions. Our results suggest three main conclusions: i) we find evidence in favour of the present-value model of the CA for all countries except France; ii) there is substantial support for the two-good intertemporal model, since both external supply and preferences shocks account for an important proportion of CA fluctuations; iii) temporary domestic shocks account for a large proportion of CA fluctuations, but the excess response of the CA is less pronounced than in previous studies.en_US
dc.language.isoengen_US
dc.publisherUniv. of Kent, School of Economics Canterburyen_US
dc.relation.ispartofseriesSchool of Economics discussion papers 09,10en_US
dc.subject.jelF32en_US
dc.subject.jelF41en_US
dc.subject.ddc330en_US
dc.subject.keywordcurrent accounten_US
dc.subject.keywordreal exchange rateen_US
dc.subject.keywordtwo-good intertemporal modelen_US
dc.subject.keywordSVARen_US
dc.subject.stwZahlungsbilanzungleichgewichten_US
dc.subject.stwVolatilitäten_US
dc.subject.stwWechselkursen_US
dc.subject.stwSchocken_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwIndustriestaatenen_US
dc.titleSources of current account fluctuations in industrialized countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn608637289en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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