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ArtikelThe Relative Dynamics of Investment and The Current Account in The G7-Economies  
Oleh: Hoffmann, Mathias
Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 111 no. 471 (2001), page C148-C163.
Topik: investment; dynamics; investment; account; economies
Fulltext: 148.pdf (237.27KB)
Ketersediaan
  • Perpustakaan Pusat (Semanggi)
    • Nomor Panggil: EE28.3
    • Non-tandon: 1 (dapat dipinjam: 0)
    • Tandon: tidak ada
    Lihat Detail Induk
Isi artikelThis paper contributes to the empirics of the intertemporal approach to the current account. We use a cointegrated VAR framework to identify permanent and transitory components of country-specific and global shocks. Our approach allows us to investigate empirically the sensitivity to persistence implied by many forward - looking models and our results shed new light on the excess volatility of investment encountered by Glick and Rogoff (1995). In G7 data, we find the relative current - account and investment response to be in line with the intertemporal approach.
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